The Mayor of London, Boris Johnson, has announced a £6m funding boost to help small and medium sized companies in the capital offer apprenticeships to young people.
The Mayor announced that businesses will be able to apply for a £1,500 incentive payment if they employ an apprentice aged 16 to 24 as part of a new Government initiative managed by the National Apprenticeship Service (NAS).
The new grant, known as AGE 16 to 24, means a further 4,000 apprenticeship opportunities could be created in London.
The Mayor also unveiled details of a new initiative he is backing as part of his Team London programme, which will bring together staff from eight leading UK and international firms to run a wide range of careers workshops, seminars and training sessions for thousands of young Londoners aged between 14 and 19.
The ‘Skills for Success’ scheme will see eight top companies – Bloomberg LP, BT, P&G, KPMG, Citi, IBM, Addison Lee and Barclays – bringing new and existing employability schemes under the Team London banner as part of a concerted city-wide effort to better prepare young Londoners for the world of work.
The Mayor of London, Boris Johnson, said: “In an ever competitive jobs market it is essential that young people are given the skills they need to prepare for and succeed in the world of work. Apprenticeships and job training schemes are fantastic ways for employers to tap into the pool of talent we have in London, while giving young people vital experience of what employers are looking for. “