Royal Mail has launched a £1 million small business apprenticeship levy gifting fund as part of a new set of commitments to support growth. The initiative comes as new figures show that a quarter of businesses are struggling to recruit skilled workers and the skills gap is one of the biggest barriers to growth.
The apprenticeship levy gifting fund is one of a number of commitments Royal Mail is making to small businesses which are published in full in a report by the British Chambers of Commerce (BCC) and Royal Mail titled Small businesses: delivering growth for Britain.
The report includes the findings of in-depth research including a survey of more than 1,200 BCC members and supporting qualitative insight into what small businesses see as the biggest opportunities and barriers to growth.
Other key findings in the research include:
- More than a third (35%) of UK firms expect to grow in the next year, while 41% forecast ‘business as usual’ and 22% expect to downsize
- Four in 10 businesses (38%) see the UK domestic market as the biggest opportunity
- Online remains a key driver of growth for businesses – firms expect proportion of e-commerce sales to increase by 25%
The report also includes calls to Government to provide targeted support to help small businesses reach their growth potential. The report and commitments form part of Royal Mail Means Business, a new campaign which aims to champion small businesses and the important role they play – from entrepreneurs and start-ups through to established companies with up to 250 employees.
A relaunched Small Business Hub contains advice and tailored content focused on fuelling growth, including simplifying and demystifying exporting, and providing more expert advice on topics businesses said they need help with as they expand into e-commerce and look to grow online sales.
Royal Mail’s apprenticeship levy gifting fund is now open. It is available to owners or employees of registered companies with up to 250 employees. The funding can be used to complete any Government registered apprenticeship course, which could include courses to upskill small businesses on traditional skills as well as help them to adopt new technologies such as AI to boost efficiency.
Companies with an annual wage bill of £3 million or more are required to pay a levy to recruit and train apprenticeships. They also have an option to gift some of their levy to external organisations.
Royal Mail has chosen to support small businesses because of the unique role the company plays in supporting businesses of all sizes the length and breadth of the UK. As the Universal Service Provider, it is the only company that delivers to all 32 million addresses in the UK.
Alistair Cochrane, Interim CEO of Royal Mail, said: “We are hugely proud of our role in helping small businesses across the UK, but we want to go further in helping them to thrive in today’s competitive market.
“The research shows small businesses have sent a clear message that they need more support, particularly in accessing workers, exporting and clearer advice. The commitments we are making, including our £1 million apprenticeship levy gifting fund and new Small Business Hub, are designed to target support where it’s needed.”
Shevaun Haviland, Director General of the British Chambers of Commerce, said: “SMEs are the beating heart of the UK economy, driving growth and employing millions of people across the country.
“To really understand what businesses are thinking, we’re delighted to have partnered with Royal Mail on roundtable events across our Chamber network, alongside survey work carried out by our award-winning Insights Unit.
“Royal Mail’s support for small business, with a particular focus on skills, can help make a real difference in local communities across the UK.”
Postal Services Minister Justin Madders said:
“Small and medium-sized businesses are the innovators and job creators that power our high streets, drive our exports, and are the heart of communities across the country.”
“Royal Mail has a crucial role to play in supporting these businesses in every part of the UK, and I welcome the additional support they are providing to their loyal customers.”
For more information about the apprenticeship fund, the Small businesses: delivering growth for Britain report, and other Royal Mail Means Business initiatives, visit Royal Mail’s Small Business Hub