A new pledge from the University of Portsmouth has led to further funding being available for small, local businesses to boost apprenticeship activity across the Solent region, raising the total figure to £2.25 million.
The University is the latest organisation to join a growing list of supporters of the Solent Apprenticeship & Skills Hub’s ‘Transfer to Transform’ initiative.
Transfer to Transform encourages large employers to pledge their unspent apprenticeship levy funds to cover the costs of apprenticeship training for smaller businesses.
The University of Portsmouth is one of only four universities in the South-East to be rated Gold in the UK Government’s Teaching Excellence Framework. The University has pledged £150,000 of its unused apprenticeship levy funds to the Transfer to Transform initiative to boost the region’s SMEs and apprentices.
Raising the skill levels of their employees is critical for businesses, including SMEs, who may struggle to access the funds they need to support apprenticeships. The Transfer to Transform scheme is a great way for us to positively use our unspent apprenticeship levy to benefit the growth of SME’s in our region and provide opportunities to train more apprentices.
Bernie Topham, Chief Operating Officer and Deputy Vice-Chancellor of the University of Portsmouth, said: “Raising the skill levels of their employees is critical for businesses, including SMEs, who may struggle to access the funds they need to support apprenticeships. The Transfer to Transform scheme is a great way for us to positively use our unspent apprenticeship levy to benefit the growth of SME’s in our region and provide opportunities to train more apprentices.”
The University of Portsmouth is the eighth large employer to pledge support to the Transfer to Transform scheme and joins other employers such as B&Q, Utilita, Coopervision and more.
Over £1.5m of the £2.25 million raised has already been distributed to SMEs across the Solent region.
Jodi Fair, Manager of the Apprenticeship and Skills Partnership, said: “The Solent Apprenticeship and Skills Hub have had a strong working relationship with the University of Portsmouth since the project’s inception, so we are thrilled to welcome them on board as a pledger to Transfer to Transform. We are always trying to support new SME’s from across the Solent with funding their apprenticeships, so to receive another big pledge from a local levy payer ensures we can continue to do so.”
With the new pledge from the University of Portsmouth, there is still a large amount of funding available through the Transfer to Transform scheme that can be used by businesses across the Solent region for apprenticeship training.
Businesses interested in finding out more about pledging or receiving through the scheme, should visit the Transfer to Transform webpage