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Financial services industry encouraged to apply for apprenticeship funding

Financial services industry encouraged to apply for apprenticeship funding

Firms in the financial services industry have been told they must stake a claim for the increased funding that has been made available for apprenticeships.

In the recent Comprehensive Spending Review, chancellor George Osborne announced £250 million will be invested to create 75,000 work training opportunities for the over-19s in order to help the economy grow and increase skills.

Sylvia Perrins, chief executive of the National Skills Academy for Financial Services, said unless businesses in the industry come forward and request the additional finance, they are in danger of missing out.

"Undertaking an apprenticeship is an ideal solution for people to get their professional qualifications within a structured training programme that can be tailored to their company's culture and business objectives," she added.

Ms Perrins noted that her organisation wants firms in the financial service sector to use the programmes as a way to retain and retrain individuals.

Earlier this week, BT revealed it plans to increase the number of work-based education places it offers from 221 to over 400 after it received 24,000 applications for the scheme.

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