Under the scheme, Close Brothers will help pay for 20 apprentices to learn their skills at the AMRC Training Centre. Close Brothers will fund half of the new recruits' wages during the first year and a quarter in the second, meaning participating SMEs won't have to bear the full cost of employing the apprentices until they are making a positive contribution to their business. The first intake will be in September 2015.
The objective is to recruit a further 20 apprentices in year two and 20 more in year three, meaning Close Brothers will be supporting up to 60 apprentices in the scheme at full capacity.
Close Brothers believes the SME sector is the lifeblood of the UK economy and also firmly backs the role of apprentices in helping SMEs grow. Apprenticeship schemes can help SMEs, particularly those in engineering and manufacturing, to bridge a looming skills gap that threatens their success and the health of the wider UK economy. Engineering UK has warned that the UK does not have either the current capacity or the rate of growth needed to meet the forecast demand for skilled engineers by 2022.
Close Brothers has doubled its lending to the sector since 2009, and in launching this innovative new scheme is again demonstrating this commitment. The scheme is open to all SMEs, not just those currently working with Close Brothers. The initiative is also supported by the Manufacturing Technologies Association (MTA).
Close Brothers, the MTA and the AMRC Training Centre will offer further support for participating companies and there are plans to bring the SME apprentices and Close Brothers' own financial apprentices together for team building and other events.
Companies wanting further information about The Close Brothers SME Apprentice Programme should contact Marc Rhodes at the AMRC Training Centre, m.rhodes@amrc.co.uk; +44 (0)114 215 8036. Applications will be accepted in June.
