If you're thinking of hiring an apprentice, you'll know how they can benefit any small business. But what are the advantages? In the current economic climate, is it worth doing? I say yes ...
An apprentice's contribution to a business can be priceless!
You'll already know what your business needs to grow, and usually, adding to your team is the way forward. However, can you find someone to hit the ground running, or would it be better to train someone up to fill any skills gaps you may have?
"This is where apprentices are a great idea!"
An apprentice working through a contract of apprenticeship is one of your employees and receives full employment protections and is entitled to the National Minimum Wage at the appropriate rate for them. This is lower in the first year and if they are under the age of 19. You will save money if you hire an apprentice compared with an older, more experienced person.
The good news is that if your business has less than 50 employees, the full cost of the apprentice is covered by the Government if they are 16 to 18 years old, or 19 to 24 and have been in care or is under the remit of the local authority.
Just like older, more experienced people, an apprentice's contribution to a business can be priceless. They may be more comfortable with new technology, are willing to learn new things and offer different perspectives to challenges your business faces.
"A recent Government survey found that 74% of employers felt their apprentices made a positive contribution to their business!"
This could be because apprentices are eager to learn and still have the enthusiasm of youth, but whatever it is, I do feel that hiring an apprentice or two will be a very positive move for any business.
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, it may be a great idea to give me a call on 01908 774320 and let's see how I can help you.
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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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