Transfer to Transform surpasses £1m
The Solent Apprenticeship Hub’s innovative Transfer to Transform scheme has now surpassed an exceptional milestone figure of £1m in pledges.
Transfer to Transform was created with the purpose of providing a platform for larger businesses to support small and medium sized enterprises (SME) in the Solent region, by reallocating funding for apprenticeship training to smaller organisations. The initiative was designed to help support SMEs through the difficult initial lockdown period in 2020.
The idea was formulated and driven forward by the Solent Apprenticeship Hub team, who have been reaching out to larger businesses across the Solent to explain the levy transfer process and to support them in identifying which SMEs they could best distribute their unutilised Apprenticeship Levy funding to.
B&Q, Utilita, CooperVision, Southampton City Council, Portsmouth City Council, ExxonMobil and a number of other large Solent based organisations are among those who have kindly pledged to Transfer to Transform, and as a result have played a vital role in amassing an incredible £1m in apprenticeship levy funding.
Currently, of the £1,275,000 in pledges, £1m has been distributed across 77 different SMEs in the region, resulting in 87 apprentice starts so far! Not only is this a fantastic opportunity for those apprentices, but also for filling the skills gaps of those SMEs who need their employees to have the highest standard of training.
Despite setting out with the target of reaching the £1m pledge marker, the Apprenticeship Hub is by no means looking to phase out Transfer to Transform, in fact the scheme is now needed more than ever to help support the local economy.
Cabinet Member for Finance & Income Generation, Councillor Stephen Barnes Andrews said: “Reaching the £1m milestone is an outstanding achievement that will not only make an immeasurable difference to the SMEs that are going to benefit from receiving these funds but also to the apprentices who will gain invaluable experience, skills and knowledge.
“Whether it’s existing staff members who are upskilling or those who join businesses in newly created apprenticeships, enabling smaller companies to utilise the unused Apprenticeship levy funds of larger organisations is a common-sense solution for all involved.
“I’d like to take this opportunity to thank the Solent Apprenticeship Hub team for their commitment and ongoing hard work. You’re making a very real difference to the lives of local people, during the most difficult time our economy has ever known.”
If you would like to learn more about becoming a Transfer to Transform pledger or receiver, the Apprenticeship Hub team are available for virtual meetings to talk about your eligibility, the transfer process, suitable apprenticeship standards and any other questions you may have about Transfer to Transform. Contact email@example.com or via any of the Apprenticeship Hub social media platforms.