Local businesses should take on apprentices to boost economy, says MP

More local businesses should take on an apprentice after new research highlighted the economic boost to the local economy, suggests an MP.

Research commissioned by the Association of Accounting Technicians (AAT) claimed taking on apprentices could boost the local economy by £2m, prompting Pendle MP, Andrew Stephenson, to call for change. The research further suggested that that every time a company in the North West hired a new apprentice, their bottom line had an average boost of nearly £2,000.

Despite the number of apprentices gradually increasing, surveys indicate that 60 per cent of small businesses aren’t using them due to a lack of understanding about how they work. Many assume that they are difficult to administer and will involve a short-term cost, said the AAT.

Mr Stephenson said: “Last year, 1,150 people started an apprenticeship in Pendle. This means that new apprentices alone provided a local boost of around £2.2 million in 2012/13.

“If they don’t have one already, every local business in Pendle should consider employing an apprentice. By giving young people a chance, they will also be boosting their bottom line.

“The benefit here of £2.2m has made a real difference to the local economy, and that’s just from apprentices who began last year. Apprenticeship numbers have now doubled, with the Government making it a key priority.

“It’s great news for each local apprentice, great for our businesses and great for growth.”