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Businesses to receive funds for skills programmes

The Department for Business, Innovation and Skills has announced that employers, regardless of their sector or size, are now able to apply for funds from a £240 million pot in order to finance skills training programmes within their enterprises.

So far, the Employer Ownership Pilot has committed about £90 million to businesses and has furthermore managed to raise £115 million from large companies including Siemens and AkzoNobel.

The types of training funded by the initiative range from pre-employment to programmes for current employers to further their skills.

Applications for the second round of funding will remain open until March 28th.

Skills minister Matthew Hancock spoke of the need for such schemes in order for British businesses to be able to compete on global markets, stating: "They need a highly-skilled workforce that can meet the challenges of the future." He added that the initiative could prove particularly useful for small and medium-sized enterprises trying to expand.

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Posted by Nikki BarristerADNFCR-1617-ID-801537908-ADNFCR