• Swindon & Wiltshire Education, training and skills
• Tuesday February 11 2025
• Author Name: Peter Davison

West of England businesses handed £500,000 boost in apprenticeship funding

Businesses in the West of England are set to have their ability to train new apprentices strengthened following a half a million-pound pledge to the West of England Mayoral Combined Authority and Western Training Provider Network from Lloyds Banking Group.

In an announcement timed to coincide with National Apprenticeship Week (10-16 February), Lloyds announced it had committed its surplus Apprenticeship Levy to the Network’s #ShareToSupport fund, which is supported by the combined authority.

The fund enables larger employers to support job creation and progression opportunities in the region by funding training for SMEs.

The banking giant says the commitment will help cover the costs of apprenticeships and help combat skills shortages across the West of England.

Recent Business Barometer data from Lloyds Banking Group shows a real willingness by South West businesses to invest in their workforces. Over a third of employers in the region (34 per cent) were looking to invest in their teams, with nearly a quarter (23 per cent) planning to invest in training.

Amanda Dorel, regional director, Bristol and South Region SME at Lloyds Banking Group said: “Like so many other businesses up and down the country, employers in the South West continue to come up against the challenges posed by skills shortages.

“Unlocking skills development is a vital step in setting more businesses up for future success and delivering greater economic growth for the region.

“As the lifeblood of our economy, we need to make sure that our local SMEs have the resources and funding they need to invest in the skills that will help them thrive.

“That’s why, as part of our commitment to helping Britain prosper, we’re working with partners like Western Training Provider Network and the West of England Mayoral Combined Authority, to ensure that local businesses have the resources and expertise they need to grow.”

West of England metro mayor Dan Norris said: “I’m thrilled that Lloyds Banking Group has pledged half a million pounds to fund training and apprenticeships in our region.

“This latest funding secured for the West of England means that £7.4 million has now been committed to our Share to Support scheme for smaller businesses to invest in workers.

“This is fantastic news for local employers and jobseekers alike, helping to ensure that funding raised here stays here, where it makes the biggest difference.

“Apprenticeships are a brilliant way to train up local talent while supporting businesses to grow. The success of Share to Support proves what we can achieve when big employers step up to invest in our workforce, including this week during National Apprenticeship Week.

“If other big firms have unspent apprenticeship levy funds then I encourage them to follow Lloyds’ lead and invest it in our regional fund – helping the West of England thrive.”

Image by Indosup from Pixabay