Mark urges local firms to take on an apprentice and get a £1,941 boost

(March 11, 2014)

Mark is calling for more local businesses to take on an apprentice, after new research revealed the extent of the benefits involved.

Every time a local company hires an apprentice, their bottom line gets an average boost of £1,941. This happens immediately, while the apprentice is being trained, and represents the benefit after typical wage and training costs for the North West are deducted.

The number of apprentices has increased rapidly since the National Apprenticeship Service was created in 2009. Despite this, surveys show that 60% of small businesses are missing out because they don’t know enough about how apprenticeships work. Many assume that they are difficult to administer and will involve a short-term cost.

Last year, 1,120 young people and adult learners started an apprenticeship in Preston. That helped local businesses by a total of £2.2m in 2012/13.

Mark MP said: ‘If they don’t have one already, local businesses in Preston should consider employing an apprentice. Apprenticeship starts increased massively after the creation of the National Apprenticeship Service in 2009, but there is a danger that progress could stall unless more companies hear the message. We can do better for our young people and adult learners.

‘This is a chance for firms to give back to the community – and by giving local people a chance, they will also be boosting their bottom line.’

The new research was commissioned by AAT - the professional body for accounting technicians, which has pioneered apprenticeships in accounting. Non-traditional areas like accounting now make up the majority of apprenticeships, demonstrating the huge range available.   

Jane Scott Paul, Chief Executive of AAT, said:  ‘I am delighted that Mark Hendrick MP is encouraging more companies to employ an apprentice. Far from being a cost, apprentices bring benefits straight away.

‘It’s really important that employers know there are apprenticeships for all shapes and sizes, including those in non-traditional sectors like accounting and law. That’s how apprentices boosted UK firms by £1.8 billion last year.’

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