5 Reasons Why You Should Apply for the Kickstart Scheme

Make the most of this rare opportunity to source fully-funded staffing for your business.

What is the Kickstart Scheme?

The Kickstart Scheme is a government initiative set up to boost both employment levels and the economy. It allows businesses to hire free staff for 25 hours a week on a 6-month placement. It’s a win-win situation for both employers looking to grow their business & young people looking to get into work. 

Sound too good to be true? Well, there are some additional requirements. The candidates must be between the age of 16-24 and be claiming Universal Credit. This is because the scheme is designed for school leavers and recent graduates who have struggled to find work due to the pandemic.

The Kickstart is the perfect opportunity to grow your team at no extra cost. We’ve listed the 5 top benefits of the scheme below.

1. Free staff!

Whether you’re already thinking about hiring someone new or perhaps you could simply benefit from an extra pair of hands, it’s hard to argue with fully-funded staffing. The placement is on a 6 month basis and there is no obligation to keep them on at the end, although we’re sure you’ll want to!

2. Free money!

Need we say more? Oh, go on then… for every person you hire under the Kickstart scheme, you will receive a £1,500 grant upon hiring them to help cover things like a new laptop or training and certificates. This is on top of the 100 hours a month of free labour, with the DWP covering the National Minimum wage for up to 25 hours a week, plus National Insurance and employer contributions.

If you do want hire someone full-time, you can still use the Kickstart scheme to cover 25 hours a week and all you need to do is pay for the additional hours.  

3. Experiment with different areas of your business

When creating a Kickstart position, it needs to be a ‘new’ role, meaning you can’t use the scheme to replace anyone in a current role. This is a great motivator to create a new role in a department that you may have not considered before. At Asset Funder, we have hired Kickstarters in Digital Marketing and Telesales. You may be hiring people who are already skilled in an area that you’re not, or you could train a young person to your company’s standards.

Kickstart positions can be in any role for any company, including manual labour roles. If you’re looking to hire anyway, we would definitely encourage you to use the Kickstart Scheme to do so.

4. Fresh ideas

Hiring young people is an opportunity to innovate how your company is currently operating. Young people are flexible and eager to learn, and greatly care about contributing to the culture of their workplace. Don’t believe us? Check out this report by the UK Commission for Employment and Skills about why businesses should be recruiting young people.

There are so many young people looking to make the first steps on the career ladder. They’re faced with a dilemma: you need experience to get experience. By giving a young person an opportunity to get their foot in the door, you are helping them as well as your business.  

5. Applications close soon

The Kickstart Scheme is running until 31^st December 2021. This £2 billion investment is one of a kind and is unlikely to happen again. We’ve found it can take a couple of months to go through the administration and hiring processes. If you would like to hear more about our experience and how we can help simplify the process for you, please get in touch.

The Kickstart Scheme goes alongside other government initiatives including the Recovery Loan Scheme which provides term loans, asset and invoice finance to companies affected by the pandemic. Find out if you’re eligible here.

Next steps…

Want to find out more? Give us a call on 0800 999 6962 or e-mail us to have a no-obligation chat about how the Kickstart Scheme can benefit your business growth strategy. As a finance intermediary, we are also available for all of your funding needs. If you're looking to access a loan or finance a new piece of equipment, we are here to help. With incentives like the Recovery Loan Scheme and super-deduction tax relief, now is the perfect time to invest in your business.