The Prime Minister, Rishi Sunak, has announced reforms to apprenticeships that will enable up to 20,000 more apprenticeships and could be especially welcome news to small businesses.
With effect from April 1st, the government will pay the full cost of training for anyone up to the age of 21.
If you are a small employer this will mean that you no longer need to meet some of the training costs and may mean that taking on an apprentice becomes more viable.
Education providers will also benefit as they currently need to source funding both from businesses and the government.
Gillian Keegan, Education Secretary, commenting on the reforms said: “Apprenticeships are a fantastic way for businesses to develop the skills they need, and these new measures will help more businesses and young people benefit from them.”
See: https://www.gov.uk/government/news/prime-minister-to-announce-major-reform-package-to-boost-apprenticeships-and-cut-red-tape-for-thousands-of-small-businesses
Cash flow is the lifeblood of any business. Without it, even profitable businesses can run into trouble. Yet many business owners, and even some finance teams, treat cash flow as a monthly or quarterly review item. That’s a mistake.
For many small and medium-sized business owners, bookkeeping, payroll and VAT returns are seen as a necessary part of their routine. These tasks are essential, but in terms of shaping your business, they can only tell you what has already happened.
