The federal government has launched a new Australian Apprenticeship Support Network in a bid to cut red tape and lift apprenticeship completion rates, which currently stand at around 50%.
The network will receive $200m funding each year and will provide a one-stop-shop for employers, particularly small business, looking to hire a new apprentice suited to their business.
The Australian Apprenticeship Support Network will:
- connect apprentices and employers through targeted job matching;
- provide advice about different course options and training delivery options;
- deliver personalised mentoring and support to apprentices;
- provide advice to businesses taking on apprentices, including their roles and responsibilities
- manage the administration of an apprenticeship, including the training contract; and
- administer the Australian Apprenticeships Incentives Program, including employer incentives and trade support loans.
The government has already introduced new Trade Support Loans offering up to $20,000 over the life of an apprenticeship to encourage more young Australians to start their career with an apprenticeship and complete their qualification. The loans are spread over four years and provide greater assistance by easing the financial burden in the early years of an apprenticeship when the apprentice’s income is often lower.