Employer Ownership Fund SME Engineering Skills Support, Improving Engineering Skills in Smaller companies
The Government launched a £2.5 million fund on Friday 12th December. This “offer” is open to any small or medium sized company that employs people in engineering occupations. Its aim is to help companies grow and become more productive through investing in the skills of its current and future engineers. This is the first tranche of a £10 million fund to give employers a leading role in tackling skills shortages in engineering. It provides a 50% grant from Government, with a simple, fast to access application process.
It follows the recent Engineering Skills funds – for Improving Engineering Careers and Developing Women Engineers, which closed on 5th December. BIS have made it easier for smaller companies to “bid” with a significantly lower minimum funding threshold (£10,000) and are allowing employers to include staff wage costs during training as part of the eligible costs.
The bid application process is “open” from 12th December 2014 until the 27th February 2015 – or until funds are all allocated. More information on registration and guidance on making an application can be found through the Gov.uk website at the following link:
BIS expects to open up the remaining £7.5 million if existing funds are fully taken up
Any queries can be addressed to employerownershipenquiries@bis.gsi.gov.uk
In addition the NAA will be more than happy to signpost and support its members to access this funding stream.
