Introduced in 2017, apprenticeship levies are the government’s way of helping businesses make the most out of their apprenticeships. Because this is still a new concept, however, many are unsure how to effectively spend these funds.

Here are a few tips on how you can maximise the use of your apprenticeship levy funds.

Transfer 10% to Other Employers

Sounds crazy but hear us out! If you transfer 10% of your funds to another employer to support the apprenticeship delivery. From April 2019, this will be 25% but the result will be up to £30,000 in apprenticeship activity.

Recruit for the Summer

While recruiting for apprenticeships, aim to do it for next summer. It’s the best time as many apprentices are now off school. However, they will most likely be on the hunt before they leave school. Best to be the early bird so you’re not dry on recruits.

Negotiate Extras

Negotiating extra training support from your training provider could prove extremely beneficial and is a great way to maximise your levy without having to spend extra. Getting as much as you can without spending extra is, after all, the most desirable outcome.

Plan Ahead

As per summer recruitment, it’s super important to plan ahead of time, that way you can set yourself a budget and keep very close to your profit margins. You’d rather not have to dip into other funds to pay for things, after all.

Don’t Spend It All at Once!

Once you get your levy, don’t spend it all on one thing. This should be obvious, but many employers can get carried away and the levy’s gone before they realised what happened. In short, plan wisely, spend little and get as many extras as possible.

Want to know more about our apprenticeships? Take a look at what we have to offer.