The successful 20 SMEs (listed below) will now begin interviewing apprentice candidates, supported by workshops designed to equip them with the skills to employ an apprentice. Once selected, the apprentices will begin the training programme with their relevant SMEs in September 2015.
According to research from Close Brothers' Business Barometer, just one in three SMEs across the UK currently offer apprenticeships. To rectify this, the merchant bank has partnered with the University of Sheffield AMRC Training Centre and the Manufacturing Technologies Association (MTA) to help pay for 20 apprentices for local SMEs.
The Close Brothers programme aims to help SMEs access the best young talent. According to the Close Brothers' Business Barometer, 28% of SMEs said that appointing an apprentice allows them to develop skills sets that the business may be lacking, whilst a further 16% say that apprentices improve business productivity.
Shaun Siddal, director, C&S Fabrications, one of the selected SMEs, comments: "We hope that this scheme will provide us with fresh, new talent, who are eager to learn the fabrication trade. Apprentices are beneficial to the future of our business and are needed in order for our company to move with the times. The support of the Close Brothers programme will be a catalyst for us to feed in well trained staff into our experienced workforce."
CEO of Close Brothers Group Stephen Hodges adds: "SMEs are the lifeblood of our economy, and the recruitment of ambitious, fully trained apprentices can only foster even greater growth in the UK, especially in manufacturing and engineering industries where there is such glaring skills shortage. This banking first is a pioneering scheme to provide genuine financial support for the SME sector. We are excited to be working with a variety of SMEs and see the results of the programme."
The new programme will fund half of an apprentice's wages during the first year and a quarter in their second. Close Brothers' objective is to recruit a further 20 apprentices in year two and 20 more in year three, meaning it will be supporting up to 60 apprentices in the scheme.
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.
The successful 20 SMEs who have been selected by Close Brothers are:
1.Best Engineering
2.C&S Fabrications
3.CATRA
4.CNC Rotary
5.X-Cel Superturn
6.Davy Markham
7.FA Morris
8.Fernite of Sheffield
9.Foxwood Diesel
10.IME Repair Services
11.Multiplex
12.Owen Springs
13.RE Field Services
14.RIPCO
15.Senex Engineering
16.SPA Landscaping
17.Strafford Fabrication
18.Tufcot Engineering
19.Viking Industrial & Marine Services
20.W Hallam Castings
