LONDON, April 20, 2015 /PRNewswire/ --
- Close Brothers to fund 20 apprentices at British manufacturing
/ engineering firms
- Supported by the Manufacturing Technologies Association (MTA)
and University of Sheffield AMRC Training Centre
- Three year programme to help firms to secure skills for
tomorrow
Close Brothers Group plc, the leading merchant banking group,
today announces the launch of a pioneering programme to help small
and medium-sized enterprises (SMEs) secure the skills they need for
future growth.
Through the "Close Brothers SME Apprentice Programme", Close
Brothers will contribute to the cost of apprentices for 20 SMEs who
might otherwise be unable to afford to take on a new
apprentice.
With the support of the University of Sheffield AMRC Training
Centre and the Manufacturing Technologies Association (MTA), the
programme will help SMEs recruit and train a new generation of
advanced engineering workers.
Under the scheme, Close Brothers will help pay for 20
apprentices to learn their skills at the AMRC Training Centre.
Close Brothers will fund half of the new recruits' wages during the
first year and a quarter in the second, meaning participating SMEs
won't have to bear the full cost of employing the apprentices until
they are making a positive contribution to their business. The
first intake will be in September
2015.
The objective is to recruit a further 20 apprentices in year two
and 20 more in year three, meaning Close Brothers will be
supporting up to 60 apprentices in the scheme at full capacity in
what is a banking first.
Close Brothers believes the SME sector is the lifeblood of the
UK economy and also firmly backs the role of apprentices in helping
SMEs grow. Apprenticeship schemes can help SMEs, particularly those
in engineering and manufacturing, to bridge a looming skills gap
that threatens their success and the health of the wider UK
economy. Engineering UK has warned that the UK does not have either
the current capacity or the rate of growth needed to meet the
forecast demand for skilled engineers by 2022.
Close Brothers has been a long-term supporter of SMEs, doubling
its lending to the sector since 2009, and in launching this
innovative new scheme is again demonstrating this commitment. The
scheme is open to all SMEs, not just those currently working with
Close Brothers.
Close Brothers, the MTA and the AMRC Training Centre will offer
further support for participating companies and there are plans to
bring the SME apprentices and Close Brothers' own financial
apprentices together for team building and other events.
Close Brothers Banking division Chief Executive Stephen Hodges said:
"We know from our work with SMEs that many would like to take on
apprentices but they are worried about the cost, time, and resource
involved. Britain's manufacturing
companies urgently need to recruit and train a new generation of
skilled engineering workers if they are to grow in an increasingly
competitive global market: we hope our initiative will help more
SMEs to do just that. We believe this pioneering scheme will
provide genuine financial support to the SME sector."
James Selka, CEO of the MTA
said:
"Companies need highly skilled workforces to enable them to get
the most out of the latest technology they need to deploy to stay
ahead. This initiative offers smaller firms the chance to be at the
forefront of securing those skills for their futures. They, no less
than larger companies, need to increase side-by-side investments in
technology and skills to be globally competitive and meet customer
demands for versatility. This scheme will help them do just
that."
AMRC Training Centre Director of Training,
Alison Bettac said:
"We are really grateful to Close Brothers for creating this
golden opportunity for smaller firms to put fears of the costs and
the administrative burden of employing an apprentice to one
side.
"In addition to getting a high-quality vocational education,
shop floor skills and access to employment, apprentices at the AMRC
Training Centre can also be taking the first step on a road that
could lead to undergraduate and post graduate qualifications that
could make them company leaders in the future."
Company enquiries
Companies wanting further information about The Close Brothers
SME Apprentice Programme should contact Marc Rhodes at the AMRC Training Centre,
m.rhodes@amrc.co.uk; +44 (0)114 215 8036
Applications from companies will be accepted in June.
About Close Brothers
Close Brothers is a leading merchant banking group, providing
lending, deposit taking, wealth management services, and securities
trading. The group employs 2,800 people, principally in the UK, and
is one of the largest 250 companies listed on the London Stock
Exchange.
Close Brothers' Banking division provides lending to small
businesses and individuals, with an emphasis on specialist finance,
and also offers deposit taking services to UK businesses and
individuals.
At 31 January 2015 Close Brothers
had a loan book of £5.5 billion, the majority of which is loans to
SMEs.
About the Manufacturing Technologies
Association
The Manufacturing Technologies Association is a trade
association for companies working in the engineering-based
manufacturing sector. Many of its members are involved in the
construction and supply of manufacturing technology whilst others
deploy these technologies or are involved in providing services to
the industry.
Machine tools made by MTA members are used across every sector
of engineering to shape and form the parts that make up everything
from the latest fighter jet to the most innovative surgical
implant.
The sector in the UK directly employs around 10,000 people, most
of them highly skilled, and has a £1.6bn turnover, of which more
than 80per cent is exported. Its biggest markets are the
engineering powerhouses of China,
the USA and Germany.
About the AMRC Training Centre
The University of Sheffield's
pioneering 5,500 sq m apprenticeship training centre has been
established to provide the next generation of world leading
engineers.
The Centre is currently training 410 first and second year
apprentices and is the joint headquarters of the new National
College for Advanced Manufacturing. It has links with both
Sheffield universities, enabling
apprentices to go on to study for higher-level qualifications up to
doctorate and MBA level, and offers a range of courses for
continuing professional development.
Last year it won the Times Higher Education Outreach Award by
creating a blueprint for bridging the manufacturing skills gap and
promoting social mobility at the same time.
