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505 Business Funding and Workforce Development Grant

If you’re looking to improve the knowledge, develop the skills and increase the productivity of your workforce, the 505 Funding for Professional Development is the most cost effective workforce training solution available for UK businesses.

What is 505 Funding?

The 505 Business Funding is the ultimate financial support scheme for businesses looking to engage in workforce development and employee training. IoSCM have partnered with the Distance Learning College and Training team, combining our skills and knowledge to provide you with the most flexible and bespoke professional development programme in the UK.

The funding for employee training offers businesses of all sizes 50% off accredited qualifications for an entire five years. Organisations can enrol as many members of staff as they like during the five year period, regardless of their role or level within the business.

The 50% training bursary can be utilised on any of the qualifications offered by IoSCM. The offer also extends to our funding partners DLC and the professional development training courses they deliver from institutes such as CILT, IoSCM, CIPS, ILM, CIPD and many more.

How does it work?

There are three ways in which you can utilise the workforce development grant;

1. Access it immediately. Enrol members of your workforce today for a 50% discount on all qualifications, regardless of the quantity, industry or level of study.

2. Register Your Interest. Secure your access to the 50% discounts by registering your interest today. This means you can utilise the funding at any point throughout 2018. You’ll receive regular communication giving you priority access to future drawdowns, offers, new qualifications, add-on’s such as on-site delivery and much more.

3. The 5 Year Plan. Guarantee funding for five years by enlisting your workforce onto our career development plan. Each staff member you enrol can progress through three levels of qualification – all at 50% off.

A member of our Business Team will deliver a free consultation in order to fully understand your workforce and their professional development requirements. Once we have identified your employees’ areas of development we can recommend the most suitable funding route and qualification set to fulfil both the aspirations of your employees and the aims of your business.

Who qualifies for the funding?

The criteria needed in order to apply for our workforce development grant is minimal. Currently the qualification funding is only extended to UK based organisations and you must meet the following conditions:

  • The individual studying must be working within the United Kingdom, there are no restrictions as to how long for
  • Students must be current be in a role, or working towards a role relevant to the chosen qualification
  • The learner or the business sponsor must accept that there may be additional payments dependant on the institute and qualification not covered by the funding

Are there any restrictions?

The 505 employee training grant is accessible to businesses of all sizes and available to both private and public sector organisations. The learner(s) need not have any previous qualifications, businesses can enrol an employee at any level – introductory staff all the way to senior management and leaders.

What does it cover?

We cover qualifications starting at Level 2 (GCSE equivalent) applicable to Introductory or Entry Level staff members, up to Level 7 (equivalent to a Masters’ Degree) designed for Senior Leaders and Managers including CEOs and Managing Directors.

We deliver a diverse range of specialised qualifications for all staff in the following fields and sectors;

  • Supply Chain Management
  • Manufacturing and Operations
  • Logistics and Transport
  • Management and Leadership
  • Team Leading
  • Human Resources
  • Purchasing
  • Import and Export
  • Ports and Shipping
  • Quality Management
  • Project Management
  • Customer Service
  • Business Development
  • Account Management
  • Inventory
  • Operations Management
  • Business Studies
  • Production Planning & Control
  • MRP
  • Lean Manufacturing
  • Business Improvement Techniques

What isn’t included?

Excluded from the business funding scheme is the examination fees and membership costs for institutes. Due to these fees going directly to the relevant institutes, they are beyond the control of DLC and IoSCM and therefore are not covered by the 505 Fund.

Why should my business invest in employee development?

There are a multitude of benefits for investing in employee training, we recommend reading Distance Learning College and Training’s latest article of the positive impact workforce development can have on your staff, your business and even your profit margin.

How do I apply?

To apply for the 505 Funding, you can complete our online enquiry form and a member of our team will be in touch in order to send you an application pack. The process is quick and easy, with funding available for release immediately. Alternatively, you can contact our expert Business Specialists for a free, no-obligation consultation by calling us direct on 0800 433 4540 or emailing us via corporateteam@ioscm.com

 

Download the full 505 Business Funding brochure here.

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