Apprenticeship funding incentive to be extended

The Chancellor of the Exchequer announced that employers wanting to hire apprentices are to continue benefitting from £500 million jobs support package until January 2022.

The package, which also supports Rishi Sunak's flagships Kickstart scheme, provides bonuses of £3,000 for every apprentice a business employ, which was originally due to close on 30 November 2021.

The incentive payment is in addition to the £1,000 employers already receive for hiring an apprentice and is also different from apprenticeship levy funds. Therefore, this extra payment, as announced in the March 2021 budget, can be spent on anything to support an organisation’s costs or towards the apprentice’s salary.

The bonus payments will be made in two equal instalments for each apprentice, with the first payment due after an apprentice completes 90 days in their new role, and the second 365 days later.

Estate Agent Apprenticeship

Propertymark was part of a working group that launched the Junior Estate Agent Apprenticeship (England), which is an ideal starting point to give people access to a property sales career path. Taking advantage of the extra incentive payment from the UK Government can benefit agents, their businesses, and future property professionals.

During the time that the apprenticeship incentive was increased to £3,000 for employers, Propertymark Qualifications has seen the number of estate agent apprentices registering for their qualifications quadruple compared to 2019.

Junior Estate Agent Apprenticeship (England)

The Junior Estate Agent Apprenticeship Standard can ensure that your business has a more consistent calibre of entry-level staff. Find out how you can benefit from hiring an apprentice.

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