Until recently, the Kickstart Scheme needed a minimum number of 30 placements to access funding, but thankfully this limit has been removed and now businesses can apply directly, no matter how many placements they have available ...
However many placements you have, the Kickstart Scheme allows any business to apply directly!
Previously, gateway organisations such as the Institute of Chartered Accountants in England and Wales (ICAEW) could make a batch application for 30 placements across various businesses, but now individual companies can apply for as many placements as they need.
"The Kickstart Scheme aims to provide funding for 6-month job placements for 16 to 24-year-olds who are on Universal Credit!"
The importance of this scheme is hugely understated when you look at the sectors hardest hit by the pandemic. Hospitality is the perfect example of an industry employing the most young people.
This initiative, administered by the Department for Work and Pensions (DWP) works with young people who are at risk of long-term unemployment and create 6-months of paid work placements for them.
100% of the National Minimum Wage (or the National Living Wage depending on the age of the participant)
Gateway organisations like the ICAEW still recommend working with them directly to sort out the placements as they have so much experience with the scheme, but any business can now apply directly, even if they only have one placement available.
"It's the administrative challenge ICAEW talk about the most!"
Yes, there is much paperwork needed to lodge an application, but also the young people need regular interventions and guidance to ensure they get the most from their placements, potentially leading to a permanent position for the best and brightest.
I think that removing the 30-placement limit is a very positive move, but do be ready for lots of admin if you want to make use of the scheme.
Until next time ...
ROGER EDDOWES Business Godparent
Would you like to know more?
If anything I've written in this blog post resonates with you and you'd like to discover more about the Kickstart Scheme, call me on 01908 774320 and let's see how we can help. Don't forget to stay updated with our daily social media posts on our Facebook page.
Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.
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