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What is Skills Bank?

Support businesses with a clear growth plan by co-investing in the development of their workforce.

Work closely with businesses to find training solutions that meet both immediate and emerging skills needs.

Develop the skills base, labour mobility and educational performance in line with the Sheffield City Region objectives so that businesses can flourish and grow.

Give employers the power to purchase skills training with support from our specialist Skills Advisors.

Skills Bank aims to provide you with a single access point for information, support, guidance and funding for skills. Our dedicated and specialist team of Skills Advisors can connect businesses to high-quality training providers to meet those needs. Training accessed through Skills Bank could be in the form of an existing qualification or industry recognised training programme. Alternatively, training can be designed to meet your specific requirements.

Skills Bank commenced in April 2019, the project is due to close on 31st March 2021. Initially Skills Bank can only support training up to 31st March 2020 (pending the Treasury national Spending Review). Please contact the Gateway Team on 03330 00 00 39 if training is likely to go beyond the 31st March 2020.

For more information on other support offered to businesses by the Growth Hub visit the Sheffield City Region Growth Hub website.

Skills Bank invests in skills provision for businesses operating in the Sheffield City Region. Skills Bank places the purchasing power for skills in your hands. 

Employers can choose from our comprehensive list of Training Providers available or source their own. 

Employers can view the Skills Bank Training Directory for a list of available training. We can support you to devise training to meet your business needs.

Skills Bank funding contributes to the overall cost of training and the amount each employer receives will depend on the business case for growth outlined in your application and contribution to the Sheffield City Region economy.

If you aren’t sure whether training can help your business to grow or would like advice on the type of training you need, you can request a call from the Growth Hub Gateway here or call 03330 00 00 39 .

The intervention rate will be calculated during the appraisal process and will be directly linked to the employer’s growth case, for this reason it is important that the growth case is clearly and fully outlined and provides a full explanation of how the learning is linked to that growth.

Maximum intervention rates are:

  • 50% for Large Companies
  • 70% for Micro, Small and Medium Companies (0 – 249 employees)

Maximum intervention rates will be awarded where:

  • The growth case is clearly demonstrated, well documented and evidenced within the application
  • It is clear that the learning is directly linked to the anticipated growth
  • The training is specialist, management and/or higher level
  • The employer can evidence how they support supply chain development
  • The employer can evidence how they are helping to raise aspirations 
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