Big corporations including Amazon (AMZN) and the BBC have thrown their weight behind a new fund aimed at helping London’s small businesses retrain staff for the post-COVID economy.
The Reskilling for the Recovery Fund was launched on Tuesday to award apprenticeship funding to London’s small businesses for new and existing staff.
Amazon, Avison Young, the BBC, City University, FTI Consulting, publisher Pearson (PSON.L), and the London boroughs of Haringey and Lambeth have all signed up to support the new fund. Each organisation is pledging their unspent apprenticeship levy to the fund, with £500,000 ($633,464) raised so far.
The fund is the brainchild of the London Progression Collaboration, a non-profit backed by the Institute for Public Policy Research (IPPR), the Greater London Authority, and JP Morgan (JPM). The project aims to help get 1,000 low-skilled workers into higher paid jobs and help out-of-work Londoners find