The Skills Bank is an exciting new service which invests in skills and expertise to drive business growth.
The Skills Bank will bring about a new culture in the skills system by empowering employers to choose and invest in the skills that they need.
It is a £17 million fund, comprising of funding from the European Social Fund and Growth Funding. CQM Training & Consultancy Ltd are one of Sheffield City Region’s approved training providers who have clearly demonstrated the quality and value of their training provision in order to gain access to this funding which will only be available until December 2017.
Skills are a key element of the Sheffield City Region Strategic Economic Plan, an economic plan which will be transformational and over the next 10 years aims to deliver: 70,000 new jobs, 6,000 new businesses and increase GVA by 10%. The funding is specifically available to training and development within the SCR which will respond to these aims, and assist in creating a larger and stronger private sector whilst developing the skills base, labour mobility and educational performance within the region.
Sheffield City Region (SCR) comprises of nine local authority areas: Barnsley, Bassetlaw, Bolsover, Chesterfield, Derbyshire Dales, Doncaster, North East Derbyshire, Rotherham and Sheffield.
Sheffield City Region employs over 700,000 people across 44,700 businesses in a diverse economic area across industry sectors. The region provides the base for nationally important sectors such as advanced manufacturing, engineering and materials. Equally, the Sheffield City Region has a strong economic base in creative and digital, low carbon, health care technologies and aerospace technologies. These sectors are expected to contribute significantly to an increase in the city region’s Gross Value Add (GVA) although with relatively low levels of employment growth.
Skills are a key element of the Sheffield City Region Strategic Economic Plan, which will be transformational and over the next 10 years, and will:
•Help to increase GVA by 10% and by £3 billion
•Create 6,000 new businesses and 70,000 new jobs, which address a shortfall of around 30,000 higher skilled people
•Support a new culture of employers investing in skills
•Drive sustainable growth and increase productivity in the region
If your business is within the Sheffield City Region contact CQM T&C today for advice and guidance on how we can help you access this substantial pot of funding to further develop your people and grow your business through improving performance, productivity and efficiency.