The Skills and Enterprise Minister, Matthew Hancock MP, has today announced a new £20m opportunity to help automotive supply chain businesses develop their workforce skills to maximise growth opportunities.
The £20 million fund for skills-based projects, which would be match-funded by the successful employers, is part of government’s Employer Ownership Initiative.
Automotive component manufacturers and companies providing manufacturing services can apply for up to 50% co-funding for training designed to raise capabilities. The aim is to help UK-based suppliers take advantage of the £3 billion worth of opportunities identified by the Automotive Council in a recent survey of the sector.
Mike Hawes, SMMT Chief Executive said, “Investing in skills is fundamental to the future growth of the UK automotive sector. This £20m fund to help supply chain businesses develop their workforce is a very welcome initiative which we hope will encourage further investment in training. There is a range of opportunities for UK suppliers as domestic vehicle manufacturers look to increase local content. We would encourage every automotive component manufacturer, or manufacturing service provider, to consider how they could utilise this Fund to improve skill levels still further.”
The first round of projects can be submitted by businesses from 6 May via the .GOV website.
SMMT will be hosting a webinar to promote the supply chain skills fund. This will take place on 14 May at 11.00am – space is limited, so reserve your place now by clicking here. After registering, you will receive a confirmation email containing information about joining the webinar.