The Close Brothers Business Barometer, a quarterly survey of more than 700 SME owners and senior managers by Close Brothers Asset Finance, found that 40% of transport SMEs and SMEs serving the public sector have apprentices, compared with 34% of engineering SMEs and only 20% in the retail sector.
The Business Barometer, an anonymous, online survey of business sectors Close Brothers Asset Finance is most closely aligned with, found that 57% of print firms that take on apprentices said it gives them access to the best young talent, while 29% say that apprentices improve business productivity.
A further 14% state that it allows them to develop skill sets the business may be lacking.
Managing director of the Print Division at Close Brothers Asset Finance, Basil Bannayi said: “It would seem that print businesses that participate in apprenticeship schemes see clear benefits in doing so, and I would encourage more firms to consider it as a way to grow their workforce and bridge any skills gap they may have.
“It’s particularly relevant for print firms to think about the skills they need to keep up with a rapidly changing industry. While technological developments are a very positive thing, there is inevitably a correlation between evolving technology and the need for a workforce that is qualified to keep up with the latest changes.”
Last week the government announced that apprenticeships would be given equal legal treatment as degrees and said it was committed to creating three million apprenticeships by 2020.
Protecting the term ‘apprenticeship’ legally would strengthen their reputation and help encourage more apprenticeships the BIS believes.
Skills minister Nick Boles said: “Businesses know their value so it’s high time they were recognised both by the public and in law as being equal to degrees.”
A 2014 report from think tank Demos estimated that Britain’s GDP would improve by £4bn a year if apprentice numbers were increased to levels similar to those of Australia and Germany.
Close Brothers Asset Finance’s parent company, Close Brothers Group, has launched the Close Brothers SME Apprentice Programme, which supports the cost of taking on an apprentice.
