Government earmarks $476 million to build industry skills

Four-year funding program unveiled by Federal government

Build your skills set

Build your skills set

Australian businesses can apply for support to boost the skills of their workforce under a Federal government $476 million Industry Skills Fund.

This fund is offering up to 200,000 training places and skills advice for businesses over the next four years, according to the Federal Assistant Minister for Education and Training Simon Birmingham.

Details about this funding program are available at a dedicated web site. Applications are being considered throughout the year.

Senator Birmingham said this funding will help businesses up-skill or retrain their staff. The initiative enables a business to grow, diversify, adopt new technologies, or take advantage of new market opportunities.

“For the first time, employers will be supported to decide what training is needed in their business, and which training provider they want to work with, to boost their business productivity and competitiveness.”

Priority goes to small and medium-sized businesses. These include micro businesses, as well as businesses looking to grow across sectors where Australia has a competitive advantage.

These sectors include advanced manufacturing, food and agribusiness, medical technology, mining equipment, as well as oil, gas and energy resources.

Businesses seeking to train staff will need to make a contribution of between 25 and 75 per cent to the cost of training. The co-contribution rate depends on the number of staff, with smaller businesses receiving higher levels of support.

Follow Shahida Sweeney on Twitter: @ShahidaSweeney

Tags federal governmentskills crisisskills retentiontrainingbusinessICT funds

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