Posted on: 15 April 2019
Growing your business through growing your team
Since the introduction of the apprenticeship levy in 2017, the amount of people taking on an apprenticeship has dropped. The levy was designed to help smaller businesses pay for their apprentices, so you should still consider taking on an apprentice when growing your team offering people of all ages the chance to progress.
Take a look at the infographic below to see how an apprentice could help your business.
Taking on an apprentice infographic
Share this infographic
<p><a href="https://www.premierline.co.uk/knowledge-centre/why-you-should-take-on-an-apprentice-as-a-tradesman.html"><img src="https://www.premierline.co.uk/content/dam/premierline/knowledge-centre/apprenticeships_infographic.png" alt="Why you should take on an apprentice as a tradesman infographic by Premierline"></a><br /><br/><a href="https://www.premierline.co.uk/knowledge-centre/why-you-should-take-on-an-apprentice-as-a-tradesman.html">Why you should take on an apprentice as a tradesman</a> by <a href="https://www.premierline.co.uk">Premierline</a></p>
Taking on an apprentice summary
Taking on an apprentice can help you save money on things like staffing costs, whilst also helping you increase your income. You may need to contribute 10% to your apprentices learning costs, but when you consider that the minimum wage is £3.70 an hour for under 19’s and those over 19 in the first year of an apprenticeship, you are paying this sum to invest in a member of staff.
Skills for your business
By taking on an apprentice, you will be able to train someone to suit the needs of your business, rather than employing someone who might have learnt their skills in a different way that doesn’t suit your business.
As an employer of an apprentice, you may be making a huge difference to someone’s life. You will be helping someone develop their career and give them the skills to be successful.
Develop your team
Taking on an apprentice gives you the opportunity to give other members of your team more responsibility. Whether you want to train people to be team leaders or have them learn other skills for the business, you will have to the chance to develop your wider team.
- Taking into account the average cost of training from the Institute for Apprenticeships and the minimum wage of an apprentice, the average cost of taking an apprentice is £8,140. 
- 96% of apprenticeship employers said that their apprentice benefited their business. 
- There are over 100 apprenticeship standards either live or in development in the construction industry. 
- 30% of UK born construction workers are aged 50+, meaning that there could be a shortage of experienced construction workers in the next 10 years. 
Since the introduction of the levy in 2017, the amount of people starting an apprenticeship has taken a sharp decline  . Figures have been steady around the 500,000 mark since around 2014, however since the introduction of the levy, numbers have dropped to around 315,000 for the 2017/18 academic year. 
It is believed that the reason for the drop in apprenticeships could be due to the levy being seen as complicated, with employers finding it difficult to claim the apprenticeship funding .
The levy only applies to companies who have a wage bill of over £3 million a year, otherwise they only need to pay 10% of the training cost of the apprentice and their wages. 
Tradesmen insurance with Premierline
Businesses in the construction industry can vary drastically in the kind of work that they do, which is why it is important to have a business insurance policy that is right for your business.
At Premierline Business Insurance Broker, our trained insurance professionals can find the perfect tradesman insurance cover for your business. Get in touch to speak to a member of the team for a no obligation quote.
Compare business insurance
You may also like
The information and tools contained in this guide are of a general informational nature and should not be relied upon as being suitable for any specific set of circumstances. We have used reasonable endeavours to ensure the accuracy and completeness of the contents but the information and tools do not constitute professional advice and must not be relied upon as such. To the extent permitted by law, we do not accept responsibility for any loss which may arise from reliance on the information or tools in our Knowledge Centre.