Oxfordshire businesses looking to take on an apprentice, or to offer training to their staff through an apprenticeship, could benefit from a funding programme which is soon set to close.

The Oxfordshire Local Enterprise Partnership Skills team (OxLEP Skills) is encouraging businesses to reach out to see if they qualify for funds, as the 'Grow Your Own' Apprenticeship Levy Pledge Initiative is set to end in less than six months.

Employers with an annual pay bill of more than £3 million pay 0.5 per cent of this as an apprenticeship levy and are able to pledge up to half of their levy annually.

The programme helps businesses to allocate their unused levy funds to eligible small and medium-sized enterprises, charities, and social enterprises, to go towards supporting apprenticeship training and assessment.

Since May 2022, it has allocated more than £2.3 million, with around £1.3 million still available for eligible businesses.

Any funds left unused after the programme ends will be returned to the Treasury, so OxLEP Skills is urging potential recipients to get in touch.

It is a part of the Social Contract programme, a £1.7 million programme aiming to address impacts of the pandemic related to unemployment, barriers to employment, education, and training.

Sally Andreou, skills hub manager at OxLEP, said: "Our 'Grow Your Own' Apprenticeship Levy Pledge Initiative has been hugely successful since it began, and we have been overwhelmed by the generosity of larger businesses in ensuring apprenticeship levy funds are retained within the county - and supporting the county’s small and medium-sized enterprises to fulfil their own apprenticeship ambitions.

"We really want to get across the urgency of organisations in the county getting in touch - even if they’re unsure as to whether they’re eligible to the levy funds - with our apprenticeship advisor team, to find out what support could be available to them, as the pledged levy won’t be here forever and it’s vital as much skills support as possible remains here in the county.

"Understandably, not all of our small and medium-sized enterprises in Oxfordshire feel they are in a place to take on a new employee at this time - however another thing we want to stress is the impact apprenticeships can have in upskilling current employees and unlocking new opportunities and expertise with existing staff members also.

"Whatever your business’ skills and training ambitions, the time is certainly now though to ensure those funds get utilised - it really is a case of ‘use it or lose it’."

Businesses interested in taking up the levy funding or pledging their own levy can email skills@oxfordshirelep.com.