Figures compiled by The Open University on data analysis in 2018 show that £1.28m paid by employers through the Apprenticeship Levy is languishing unspent.
Employers in the region are being encouraged to fully utilise their levy and Peterlee company GEM Training who are working with companies of all sizes to ensure they’re equipped to maximise their share of their Levy accounts.
With the Government suggesting that, as we approach the second phase of the levy which will be introduced in April this year, the unspent levy will be removed to support other smaller businesses with their training needs, Alison Golsworthy-Miller from GEM is offering firms some useful advice.
Alison said: “GEM can advise you on how to make the most of your levy. We have been working with employers throughout the new reforms and have supported many businesses through the challenges they’ve faced, whilst also making sure that we have used the levy appropriately in a way that supports business through their organisational development.”
Businesses are also being advised that they can transfer up to 10 per cent of their levy to as many other firms as they wish, which will help them utilise the funds at their disposal.
Data from The open University also shows that if organisations in England continue to use the funding at the same rate, they risk losing as much as £139 million a month from April 2019.
Alison added: “We don’t want that to happen so if any company out there has questions, or know they need support to spend their share of the Apprenticeship Levy, contact the team at GEM Training and we’ll see how we can help.”
For more information email alison.golsworthymiller@GEMPartnership.com.