Liverpool City Region’s £32 million skills investment programme for businesses is now open for business.
The Board of Directors met on 16 August 2013 for their inaugural Board meeting to finalise arrangements and agree the process of awarding grants of between £1,000 to £1 million of funding for skills projects to help deliver the workforce the City Region needs to compete and thrive.
Unlike traditional public funding for skills, this new idea, backed by the Liverpool City Region Local Enterprise Partnership, places local businesses in charge of the purse strings and enables them to decide and buy what skills their employees, apprentices and even those seeking work need.
Following the inaugural Board meeting the call for business-led training investment opportunities was strongly echoed by the Chair of the Liverpool City Region Local Enterprise Partnership Board, Robert Hough.
Robert commented: “By working together with local Councils we have convinced Government that our businesses are ready, willing and able to step up to the plate and deliver skills for growth. We now have a short window until next July to make £20m worth of investments alongside local businesses and create new types of apprenticeships and up-skill our workforce. I would urge all local businesses to look long and hard at where this funding can help deliver the skills their business needs to grow”
The original proposal to Government was led by leading Birkenhead-based entrepreneur Asif Hamid, Chief Executive of The Contact Company who explained how this is part of a long-term programme of delivering growth by encouraging investment in the City Region’s future workforce.
Asif said: “Last year we started work on a deal for jobs and skills and successfully negotiated this groundbreaking investment from Government. We have big plans for the Skills for Growth Bank. It is the first of its kind anywhere and really does make businesses the true customer of public investment in skills. We are currently working on a host of ideas including an Online Training Comparison Website and opportunities for putting even more public and private investment through the Bank.
“In addition to leading the way in the Liverpool City Region, interest in our approach is coming in thick and fast from around the UK. We have even had contact with business and civic leaders from across the globe who are interested in the Skills for Growth Bank model and how our new approach to skills funding could work for them.”
Businesses can now register online at http://www.skillsforgrowthbank.org.uk/. Once registered, they will be sent a full grant application form and be supported through the process of designing a training programme to help their business grow.