Finance industry urged not to miss out on apprenticeship funding

Financial services firms are being urged to stake their claim for new apprenticeship funding announced in last week’s Spending Review.

The number of apprenticeships for the over-19s to boost skills and help generate economic growth is to be doubled. An additional £250m will be invested, creating 75,000 more apprenticeships for adults a year by 2014/2015.  

Sylvia Perrins, CEO of the National Skills Academy for Financial Services (NSAFS), said that funding is dependent on companies coming forward to commit to apprenticeship training.

She said: “It’s very pleasing to see the Government recognising the important benefits of apprenticeships for adults who are already in the workplace.

“However, the industry is at risk of missing out unless it is vocal about staking its claim on this funded training route. As a demand-led funding system, companies need to come forward if they are to have a hope of benefiting from this boost.

“Apprenticeships are a great solution for our industry’s needs. Undertaking an apprenticeship is an ideal solution for people to get their professional qualifications within a structured training programme that can be tailored to their company’s culture and business objectives.

“We want the industry to respond by using apprenticeships as a way to retrain and retain our people.”

Companies interested in apprenticeships for their staff are advised to get in touch with Stephen Smith at NSAFS.

www.nsafs.co.uk

* Estate agents have taken a lead by setting up the new Bloom Apprenticeship Academy for Estate and Letting Agents. Its first dedicated training centre has just opened in Birmingham, where 25 apprentices are starting their six-month government-funded course leading to their NFoPP Technical Award and Level 3 NVQ Diploma.