£2.5m fund to plug engineering skills gap in SMEs


Small and medium-sized engineering companies are being encouraged to plug the skills gap in their workforce thanks to the release of the first £2.5m of £10m of matched Government funding.

The Employer Ownership Fund is designed to give smaller engineering employers 50% matched funding for training projects designed to address skills shortages affecting their business.

While the minimum grant available to larger companies is £40,000, this has been dropped to £10,000 for SMEs, which they would then need to match with their own funding, making the scheme more accessible to smaller businesses. In addition, the funding will also allow for staff costs during training.

Businesses can apply for funds until 27 February 2015 – or until funds are all allocated. For more information on how to make an application click here, or email employerownershipenquiries@bis.gsi.gov.uk