The MTC SME Support Service
in partnership with Lloyds Bank
Lloyds Bank has been actively working in partnership with the Manufacturing Technology Centre (MTC) as part of its commitment to supporting the UK manufacturing industry.
The MTC is at the forefront of technological advancements. We have invested more than £36 million in training and facilities over recent years, and central to this is the Lloyds Bank Advanced Manufacturing Training Centre (AMTC).
Established in 2015 within Ansty Business Park, Coventry, the AMTC is a state-of-the-art training centre designed to create a new generation of engineers and technicians who will help the UK realise its potential in advanced manufacturing.
Now, as part of the newly launched MTC SME Support Service in partnership with Lloyds Bank, we are coming together to provide you and your business with access to the brand new SME Apprentice Support Service, which will help your organisation to successfully manage and fulfil your apprenticeship needs.
For eligible employers, our service includes funding assistance for the duration of the apprenticeship, and we may be able to offer additional salary support during your apprentice’s first year.
We are also giving your organisation FREE access to our cutting edge training courses to raise your awareness of new and disruptive technologies.
Government Apprentice Bonus Scheme
As part of our support, we can also help you access the Government’s new apprentice incentive scheme, available until September 2021.
As part of the Government’s plans to help the UK economy to recover from Covid-19, businesses can now receive a bonus payment of £3,000 per new apprentice hired until 30 September 2021, regardless of age. This is in addition to the £1,000 payment for apprentices aged 16–18, so some employers will receive £4,000.
This amount can further be enhanced by tapping into the partnership between MTC Apprenticeships and Lloyds Bank, where SMEs with fewer than 50 employees can apply to receive up to a further £4,200 towards their apprentice’s wages through MTC Apprenticeships’ SME Salary Support Scheme.
With the average apprentice salary at £8,000 – £15,000 per annum, this funding support significantly offsets the cost of employing an apprentice for the first year of their programme.
Click here to find out more about the new scheme.