AAT research highlights value of apprenticeships for small businesses

A study from the Association of Accounting Technicians (AAT) has highlighted the value of apprenticeships for smaller businesses.

The research, which coincides with National Apprenticeship Week, showed that small businesses are recognising the benefits of apprenticeships, with 97% insisting that taking on an apprentice has been constructive and good value for money.

Productivity

Apprenticeships were also found to help boost productivity, with this being cited by 90% of small businesses, whilst 63% said that apprenticeships have helped their staff to gain the skills that they need.

More than 75% of small businesses reported an increase in the total number of new apprentices that they have taken on over the last five years and 96% said that they are highly or quite likely to increase their number of apprentices in the next couple of years.

The research also showed that apprenticeships have helped small businesses to increase their number of permanent staff, with those who have brought in apprentices offering to keep more than 60% of them upon completion of their apprenticeship, while 21% kept all of the apprentices that they have taken on.

Impact

Commenting on the study, National Apprenticeship Service Director Sue Husband said: “AAT’s research demonstrates the positive impact that apprenticeships have on small businesses in England. For people considering their first – or next – career, an apprenticeship can equip you with the skills and on-the-job training that you will require, while we hope other company owners will consider how taking on apprentices can boost their business.”