Boris Johnson has annnounced a cash incentive of £1500 to small firms if they take on an apprentice.
The Mayor secured £6m from the government to allow him to offer the incentive from the National Apprenticeship Service. Firms can also receive full funding of their training costs.
In London, small and medium sized companies are already responsible for the majority of the 63,700 opportunities that have been created since 2010. The Mayor has set a target to deliver 100,000 apprenticeships by the end of this year.
The Mayor’s campaign is particularly focused on companies in sectors not traditionally linked to apprenticeships. Big businesses are involved too, with employers ranging from the Football Association to Sony and HSBC all signing up.
The Mayor of London, Boris Johnson, said: “London’s small and medium sized employers are the backbone of the economy and critical to creating jobs and powering us out of recession. In the last 18 months they have really stepped up to the plate, delivering thousands of new apprenticeships across the city.”
Tim Campbell, the Mayor’s Ambassador for Skills and Enterprise said: “The best preparation for the economic recovery that small businesses can do is invest in talent.”