Investing in young people

LAST week I visited two very important local businesses. One, a world leader in door sealing systems that provide protection from smoke and fire, the other an engineering business specialising in die casting.

A key strength of both these businesses is that they provide excellent opportunities for apprentices.

Apprenticeships matter — individuals learn a skill whilst earning and employers gain cost-effective workers who add greater value as their skills develop. Apprenticeships are also critical to reducing youth unemployment which has reached over a million.

Youth unemployment is not a new phenomenon, it has been growing since 2004, ie, even during the time the economy was expanding. During this period there were many jobs available for young people but they were too often taken by workers from overseas —  improving our skills base is key to addressing this.

The Government's record on apprenticeships is strong with a 60% increase in apprenticeship start-ups over the last year, meaning 443,000 new apprentices. Just last week the NAO reported that £18 of value is created for each £1 of public money invested. Here is something that we are getting right.

We are now pressing hard to encourage small and medium-sized companies to take on apprentices. The Government is providing an attractive incentive for these businesses — worth £1,500 — and the cost of taking on an apprentice is low, the minimum wage being just £2.60 per hour.

So if you are a small business then please get in touch and I will make sure you get the support you need to take on an apprentice — something that will ensure a cost-effective addition to your workforce as well as providing a vital investment in our future. You can reach me at [email protected]">[email protected]