BROCHURE REQUEST
IW Capital IW Capital
  • Home
  • About us
  • For Investors
  • For Financial Advisers
  • For Companies
  • Blogs
  • Contact Us
BROCHURE REQUEST
IW Capital

New Kickstart Scheme should be extended to include SMEs

9th September 2020
New Kickstart Scheme should be extended to include SMEs

This week, Chancellor Rishi Sunak announced the launch of the Kickstart Scheme, which aims to help young people who are “at risk of long term unemployment” gain six-month work placements within businesses across the country.

 

Launched under the government’s Plan for Jobs programme, the scheme is available for young people aged 16-24, who are currently claiming Universal Credit. Each “Kickstart” job will be fully subsidised by the government, who will pay 100% of the age-relevant National Minimum Wage, National Insurance and pension contributions for 25 hours a week. In the Summer Statement, Sunak stated that these grants would equal around £6,500.

 

Whilst small businesses that would like to apply for this scheme are able to do so through a local authority, there is a minimum requirement to accept 30 placements. The authority will then compile separate applications and bid for pools of 30 at once.

 

It is clear to see that schemes like this are a fantastic opportunity for young people to get a kick-start into the working world, and to help them get out of the long-term unemployment trap. However, for it to be truly effective and make the most impact, access to schemes such as this need to be simplified for SMEs.

 

Small and medium-sized businesses make up 99% of organisations in the private sector and employ over 16 million people. This is no small feat, and must not be ignored by government schemes and grants. Cutting the red tape and getting young people into small business teams will be vital to economic recovery. It will help SMEs to grow, as well as offering young people the support they need to kick-on post-COVID. Through schemes such as the Enterprise Investment Scheme, private equity can help SMEs to grow and scale by giving them the finance to hire the new talent needed to move to the next level.

 

To find out more about IW Capital, or for more information on investment and non-executive opportunities, please speak to a member of the IW Capital team today on 020 7015 2250, or email info@iwcapital.co.uk

Archive

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020

Related Posts

IW Capital announces £2m investment in Location Live to spearhead global expansion

IW Capital announces £2m investment in Location Live to spearhead global expansion

Increase in small businesses planning to raise money through EIS

Increase in small businesses planning to raise money through EIS

Investors ready to back small businesses despite inflation concerns

Investors ready to back small businesses despite inflation concerns

How can small businesses overcome supply chain issues?

How can small businesses overcome supply chain issues?

ADDRESS: IW Capital Ltd, 42 Bruton Place, London, W1J 6PA | TELEPHONE: +44(0)20 7015 2250 | EMAIL: info@iwcapital.co.uk

© 2022 IW Capital Ltd | T&Cs | Privacy Notice | Privacy Policy | Cookie Policy

IW Capital Ltd is an appointed representative of Bramdean Asset Management LLP, which is authorised and regulated in England by the Financial Conduct Authority under registration number: 410624.

IW Capital Ltd, 42 Bruton Place, London, W1J 6PA
+44(0)20 7015 2250
info@iwcapital.co.uk

© 2022 IW Capital Ltd | T&Cs | Privacy Notice | Privacy Policy | Cookie Policy

IW Capital Ltd is an appointed representative of Bramdean Asset Management LLP, which is authorised and regulated in England by the Financial Conduct Authority under registration number: 410624.

Copy