Small businesses back apprenticeships despite cost issues

A survey from Close Brothers Business Barometer has found a high level of support from UK business for expanding apprenticeship programmes, with 82 per cent of SME managers agreeing the British ‘skills gap’ will be overcome with apprenticeship training.

Neil Davies, CEO, Close Brothers Asset Finance, said: “Skills shortages have made headline news recently and it’s clearly an issue that SMEs feel very strongly about.”

“Our research tells us that one in five small to medium sized businesses have their own apprentice scheme while 58 per cent feel it’s not right for their business; the remaining 22 per cent cite lack of affordability as the reason why they don’t have one of their own.

“Clearly, not every business has a need for an apprentice; however, the fact that for many it’s simply too expensive shows that more needs to be done.”

The survey also found 76 per cent of business owners agreed with the statement ‘apprenticeships are a valuable alternative to universities’.