Chancellor George Osborne’s budget for apprenticeships could fuel businesses’ "push for growth", it is claimed.
The budget 2014 announcements last week included small grants to help companies take on 100,000 more apprentices and the abolition of National Insurance contributions for those aged under 21.
Unified communications firm Unify, formerly Siemens, believes the move could propel SMBs to grow by expanding their workforce.
Trevor Connell, MD for Unify’s West Region, said: "We should see more businesses looking to push for growth in 2014 by embracing new technologies and new ways to work, whilst working closely with the government for support."
CRM software firm Sage added that these measures could lend a helping hand to the entrepreneurs of tomorrow, after its own survey found just one in five SMBs currently employ an apprentice.
Brendan Flattery, CEO of Sage UK & Ireland, said: "[These] measures will make it more affordable for small firms to employ young people.
"It is only right the future entrepreneurs and business leaders of our country are given every opportunity to get an early foot onto the career ladder and today’s announcement should help them achieve it."
The government also hopes to boost British exports by doubling lending to £3bn and cutting interest rates on that money by a third – two of several initiatives announced by Osborne at the House of Commons today.
While the tech industry derided the lack of initiatives to tackle cybercrime in Osborne’s budget, the £42m opening of the Alan Turing Institute, designed to position Britain as a leader in big data research, was welcomed.
