Connect with us

Hi, what are you looking for?

Top Stories

Economy

Unspent Big Tech Training Funds to Be Used for Small Business Upskilling Overhaul

<?xml encoding=”utf-8″ ?????????>

Today marks the launch of a groundbreaking skills funding programme titled ‘Be the Digital Business,’ aimed at assisting thousands of SMEs in England to train individuals for digital careers.

In a collaborative effort, data, digital, and tech apprenticeship provider QA, alongside mentoring provider Be the Business, will spearhead the programme. ‘Be the Digital Business’ will offer fully funded training for individuals to enter roles in Data and AI, Cyber Security, and Cloud IT, along with direct access to industry leaders for invaluable insights.

The initiative will utilize unspent Apprenticeship Levy money from leading household names such as Amazon, Capita, Nationwide, and Salesforce, to provide SMEs with full funding for digital apprenticeship programmes, facilitating sustainable growth in the digital economy.

The Apprenticeship Levy, a tax paid by all employers with a payroll exceeding £3 million, is intended to create a fund that can be used for apprenticeship training within the same business. However, a significant portion of this money often goes unspent, with Treasury figures revealing that £418 million of apprenticeship funding remained unallocated in the 2022-23 financial year.

In response, QA and Be the Business are encouraging large businesses subject to the Levy to utilize the Levy Transfer System, allowing them to donate up to 25% of their Levy funds to another employer, thus fueling the ‘Be the Digital Business’ initiative.

Under this programme, apprentices will undergo training through the Digital Academy, where they will acquire essential digital skills such as data analysis, AI adoption, and coding, crucial for the UK’s economic competitiveness, innovation, infrastructure, and security.

QA and Be the Business will conduct a series of webinars and events to inform SMEs and prospective apprentices about the programme and its training opportunities.

Jo Bishenden, Managing Director of Apprenticeships at QA, commented: “The Be the Digital Business initiative will empower SMEs to thrive in the digital landscape by unlocking funds that would otherwise remain unspent, at no additional cost to the public purse.”

Anthony Impey, CEO at Be The Business, added: “This new partnership with QA will enable more small businesses to access the digital skills they need, thereby generating significant productivity gains for those involved.”

You May Also Like

Forex

As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...

Forex

The introduction of aggressive climate objectives by global economies and growing prospects for reducing carbon emissions are driving the growth of the district heating...

Forex

In the dynamic automotive sector, consistent growth of the electric vehicle (EV) charging industry has become increasingly evident. Consumers and businesses alike are recognizing...

Forex

With a higher focus on sustainable living in modern architecture, the building automation systems (BAS) industry stands as a beacon of innovation. These systems...

Disclaimer: SecretsOfRichDads.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Secrets Of Richdads. All Rights Reserved.