Royal Mail launches £1m apprenticeship gift fund to support small business growth
Royal Mail today launched a new £1m apprenticeship gift fund to help small businesses in the UK tackle skills shortages and unlock growth opportunities.
The program follows in-depth research with a new report from the British Chamber of Commerce (BCC) and Royal Mail, following a new study, finding that a quarter of small companies are working to recruit skilled workers, a major obstacle to their expansion.
The report titled “Small Business: Delivering Growth for the UK, surveyed over 1,200 small companies and revealed that 35% expect growth over the next 12 months, while 41% predict business as usual. However, 22% expect layoffs, labour market challenges and obtaining recommendations identified as key issues.
In response, Royal Mail’s £1 million levy fund will be available to registered businesses with up to 250 employees, allowing them to use the funds for any government-accredited apprenticeship course. This includes both traditional skills training and more modern digital initiatives such as artificial intelligence and e-commerce technology.
The company needs to pay apprenticeship tax due to its size, so it chose to redistribute some of its tax distributions to help smaller companies strengthen their workforce.
Alistair Cochrane, interim CEO of Royal Mail, said: “We are very proud to help small businesses across the UK’s role, but we want to further help them thrive in today’s competitive market. Research shows that small businesses have shown that small businesses have sent a clear message that they need more support, especially in terms of advice on accessing workers, exports and liquidations.”
The fund release forms part of Royal Mail, which refers to a wider campaign that supports startups and small companies through a dedicated small business hub. The platform includes tailor-made advice, tools and guidance on e-commerce, export and technology adoption to help companies scale effectively.
Director-General of the British Chamber of Commerce Director General Shevaun Haviland praised the move: “SMEs are the beating of the UK economy, driving growth and hiring millions of people nationwide. Royal Mail’s support for small businesses, with a special focus on skills, can help make a real difference in the local community.”
Postal Services Secretary Justin Madders added: “SMEs are the innovators and job creators that drive our high streets, drive our exports and are at the heart of communities across the country.”
The Apprentice Giveaway Program is now open for applications and offers more details and eligibility criteria available through Royal Mail’s Online Small Business Centre.
With 5.6 million small businesses in the UK accounting for more than half of the country’s employment and economic output, today’s announcement is seen as a timely introduction to the industry during a period of rising wage costs and economic uncertainty.
