As a business with over £3m annual payroll:
An apprenticeship will most likely cost you nothing extra – all funding comes from your Apprenticeship Levy contributions.
You’ll pay 0.5% of your payroll into the Apprenticeship Levy, which the government then tops up by 10%. This can then be spent on apprenticeships. If these funds aren’t spent within 24 months of payment, they expire.
If you spend all of your levy funds, you can still enroll more apprentices. The government will pay 95% of the additional training costs, and you will only need to pay 5%.
As a business with less than £3m annual payroll:
For the Level 3 International Freight Forwarding Specialist apprenticeship, the maximum cost is £9,000, meaning that a small business would only need to contribute £450 maximum, for apprentices over 21 – and nothing at all for those 16 – 21 years of age. Payment can also be spread over the duration of the apprenticeship, making it more manageable for the employer.