Smaller West Midlands firms may miss out on apprentices

Are small businesses missing out?

Are small businesses missing out?

New research from Barclay’s Corporate Banking’s Job Creation Survey has revealed that small businesses in the West Midlands could be missing out on the benefits of apprenticeships.

Overall the figures look promising, with 30% of businesses in the West Midland’s planning to employ apprentices in 2013, compared to 27% in the whole of the UK. Despite this, the figures demonstrate how only 14% of smaller companies with a turnover of GBP5m have plans to hire apprentices, compared to 26% last year.

Jeremy Stockdale, head of relationship banking at Barclays in the West Midlands said: “It’s encouraging to see that many companies, like Barclays, are planning to take on more apprentices in 2013, but with small businesses accounting for around half of the UK’s GDP it is really important that they do not miss out on the benefits that apprentices bring to organisations of all sizes.”