Covid-19 : Business Support 04.09.20 – Update 46
New: Apprenticeship Return, Retain and Result initiative
This morning the Economy Minister announced employers will be offered £3,700 for every apprentice that they bring back from furlough and retain until they have completed their apprenticeship.
Support will take the form of :
- a £500 return payment;
- followed by a £2,000 payment for an employer who retains their apprentice for 4 months following their return from furlough; and
- a final result payment of £1,200 when the apprentice completes their qualification.
The scheme will begin on 1st November 2020 when the Coronavirus Job Retention Scheme ends.
In addition, the Department announced that £3,000 per apprentice will be available to employers for each new apprentice opportunity created between 1st April 2020 and 31st March 2021.
Further details of the support packages, along with information on how employers can apply for support, will be announced in coming days.
Additionally, the Minister confirmed she will be launching an Apprenticeship Challenge Fund in late September, to support innovative approaches and new collaborations to increase apprenticeship opportunities in Northern Ireland. Successful applicants could receive one off awards of up to £50,000.