LSBU donates £150k to create new apprenticeships in London small businesses
LSBU’s donation will be used to cover the tuition fees of apprentices in small businesses that have been hardest hit by the Covid-19 pandemicLSBU is donating £150k to ‘Reskilling the Recovery’ which is creating new apprenticeships for low-paid Londoners.
LSBU’s donation from unspent apprenticeship levy funds will be used to cover the tuition fees of apprentices in small businesses that have been hardest hit by the Covid-19 pandemic. These funds will help support the local economy in London and promote inclusion within SMEs by supporting BAME and female apprentices into better paid, more productive jobs.
‘Reskilling the Recovery’ is being run by London Progression Collaboration (LPC). Over £4million has been pledged to ‘Reskilling the Recovery’ by large employers from unspent levy funds paid by employers towards the cost of supporting degree apprenticeships. The LPC estimates that £470m of 2018/19 apprenticeship levy funds were unused by employers. This is not likely to change in the short-term - according to the last London Business 1000 survey, only half (53%) of levy-paying businesses indicated they expect to use apprenticeship funding over the next year.
Sammy Shummo, LSBU Group Director of Apprenticeships said: “LSBU is proud to be able to donate towards the London Progression Collaboration’s Reskilling the Recovery campaign. Our £150k donation will create new apprenticeships and support London’s small businesses who have been particularly hard hit by the pandemic.
“Now more than ever, we need to band together to support London's economic recovery from damage inflicted by Covid-19. As we adapt, recover and rebuild, we must ensure that London's economy works for all Londoners. More than ever we believe apprenticeships can support people into rewarding employment and help make businesses more resilient.”
Oscar Watkins, who leads LPC’s work with the built environment sector, said: “We’re delighted to be working with LSBU. The university has a powerful history of supporting Londoners to achieve their potential through applied education. These values also underpin everything we are striving to achieve through our Reskilling the Recovery Campaign. We hope that many more universities will follow LSBU’s good example, by pledging their unspent apprenticeship levy.”