What this means from 1st April 2024:
The Institute has worked in partnership with HIT Training, the market-leading specialist apprenticeship and training provider for the UK’s hospitality, catering and retail industries for many years and is delighted at the latest funding news.
The Institute’s CEO Robert Richardson FIH MI commented: “The latest changes to Apprenticeship funding marks a significant step forward in reducing costs and burdens for businesses while delivering more opportunities for young people to start their hospitality careers. This new government investment will enable up to 20,000 more young people to access an apprenticeship and provide much-needed resourcing for small businesses.”
Mike Worley FIH, HIT Training’s Managing Director, added: “Increasing the level of funds that large levy-paying employers can transfer to other businesses from 25% to 50% will give small employers further opportunities to build a skilled workforce. These extra funds will go towards apprentice training and support individuals into meaningful and rewarding employment. HIT has championed extra support for small businesses since the levy was launched, and we implore the Government to extend this further by funding apprenticeships for all ages in small businesses.
With responsibility for the Institute’s Educational and Apprenticeship Membership Schemes, IoH Head of Professional Development, Sam Coulstock FIH MIEP, confirmed: “Apprenticeships in the Hospitality profession are critical to small and medium-sized enterprises (SMEs) for skills development, building a pipeline of talent and enhancing reputation and employer branding.
“Apprenticeships provide a strategic approach to talent development, help address specific skill needs, and contribute to the long-term success and sustainability of the business. That is why we encourage employers of all shapes and sizes to embrace the Apprenticeship system and take advantage of this new funding available to invest in the long term future of our profession.”
If you are interested in accessing this latest funding and want to talk to HIT training about Apprenticeships, please follow the link below.
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