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News - 23 November 2011

Youth unemployment hits 1 million

New measures to ensure apprenticeships are made available have been launched as the latest unemployment figures show that youth unemployment has passed the 1 million mark.

Business Secretary Vince Cable has also announced a series of measures that will slash the red tape that can act as a deterrent for employers to offer apprenticeships, including simplifying the process by streamlining health and safety requirements.

Business bodies have welcomed the news.

John Walker, National Chairman, Federation of Small Businesses (FSB), said: "We very much welcome the action the Government is taking on apprenticeships. In particular it is good news that businesses will receive an incentive payment to take help them with the demands of taking on an apprentice."

Dr Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC) said: "Businesses do see the benefit of apprenticeships. However, smaller companies often shy away from taking on apprentices. They worry about the initial costs involved, the skill levels of candidates, and the potential risks to their business, particularly at a time when employing people is tough due to worries about the economy."

Lavinia Newman, Founder of ABDS says:

"The Government is to offer employers with up to 50 employees an incentive payment of up to £1500 for taking on apprentices aged between 16 and 24. This could well support up to 20,000 new apprenticeships in 2012/13. "

If you need any help and advice for your business or financial planning don’t hesitate to contact us to discuss how ABDS can help.

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Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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