Impact Futures & The Childcare Company Champion Government's Enhanced Apprenticeship Reforms to Propel SME Growth in Healthcare and Early Years

Impact Futures & The Childcare Company, leaders in delivering apprenticeships in the healthcare, childcare and early years sectors, today supported the UK Government’s reform package, set to amplify apprenticeship uptake and streamline operations for numerous small and medium-sized businesses. A pivotal element of this reform, effective from April 1st, is the full funding of apprenticeships for individuals up to the age of 21 in non-levy businesses. This move eradicates the co-investment requirement and is expected to save businesses around £150 million annually, offering substantial financial relief.

Commencing April 6th, a significant update to the apprenticeship funding structure will take effect. Large employers who contribute to the apprenticeship levy will now have the capacity to transfer up to 50% of their unused levy funds to other businesses, a considerable increase from the previous 25%. This change is set to enormously benefit SMEs by easing the apprenticeship hiring process, reducing costs, and fostering a wider array of skilled workers across various sectors.

Gareth Reichers, Director of Growth & Partnerships at Impact Futures, elaborates on these reforms: “With the government's commitment to fully fund apprenticeships for young individuals in small businesses, we are at the threshold of a new era, especially in the healthcare, childcare and early years sectors. This adjustment in funding for apprenticeships empowers Impact Futures/TCC to assist our existing partners and new clients in nurturing talent and supporting more learners. We urge healthcare, childcare and early years companies to seize this opportunity promptly, and our team is ready to guide them in upskilling their workforce.”

This development is a windfall for Impact Futures'/TCCs’ clientele, encompassing nurseries, residential childcare homes, and healthcare organisations to name a few. The reforms promise to reduce financial challenges and enhance the accessibility of training, directly addressing the vital need for workforce upskilling.

Dedicated to helping SMEs navigate and benefit from these changes, Impact Futures/TCC boasts a wealth of expertise in delivering apprenticeships and supporting SME’s achieve their training needs. The organisation is poised to lead its existing and new clients in leveraging these apprenticeship reforms to their fullest, ultimately contributing to the enrichment of businesses that serve our communities throughout England.

To find out how you can take advantage of these amazing governmental changes, get in touch and we can help you navigate through the options available to you!