Solent Business and Skills Solutions
3 September 2024
Solent Business and Skills Solutions established "Transfer to Transform" in July 2020 with the goal of utilising larger organisations' apprenticeship levy funds.
By pledging to this initiative, employers have the opportunity to support each other by using unspent levy funding before it is returned to central Government.
Solent Business and Skills solutions, with NFDC's pledge, is able to directly support local organisations with developing their team, training new staff, and closing skill gaps across the New Forest.
To date, Transfer to Transform has helped support local SMEs with over 623 apprenticeship starts, through pledges totalling over £7 million, from 30 organisations.
The Apprenticeship Levy was initiated by the UK government in April 2017, for all employers paying a wage bill of more than £3 million per year.
Employers that meet this criterion are required to pay 0.5% of their payroll each month as a levy tax. This levy can then be reinvested back into their workforce in the form of Apprenticeship training.
However, any unspent levy will be returned to government after a period of two years. With Transfer to Transform, SBSS are able to keep designated skills funds within our region, benefiting the local community.
If you would like to learn more about how your business can benefit from this exciting announcement, head to the New Forest Apprenticeship and Skills Hub website.
As well as pledging the £50k, we have partnered with Solent Business and Skills Solutions to launch the New Forest Apprenticeship and Skills Hub.
This offers free and impartial advice to New Forest based organisations of any size regarding apprenticeship and skills training, helping to remove the barriers of entry for businesses eager to invest in the development of their workforce.
This New Forest District initiative is funded by the UK Shared Prosperity Fund.
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