Metro Bank has announced its support for several female-led businesses in Northamptonshire by offering funding for apprenticeships. Through its Apprenticeship Levy transfer scheme, the bank has provided financial backing to Sywell-based Encore Environment and Corby-based Velvet Mortgages, enabling both companies to expand their teams with new apprentices.
This initiative is part of Metro Bank’s broader commitment to supporting female entrepreneurs and aligns with its role as a signatory of the Investing in Women Code, a government-led initiative to promote female business ownership across the UK.
Encore Environment, a leading waste management consultancy, has been awarded funding for an apprentice to complete the AAT Level 3 Diploma in Accounting. The company, under the leadership of managing director Rachel Rowley, has been recognised as the ‘Best Environmental and Waste Management Consultancy 2024 – East Midlands.’ Rowley herself recently won the title of Businesswoman of the Year at the Northamptonshire Business Excellence Awards 2023. Encore Environment is dedicated to reducing waste for its clients, making this apprenticeship funding a timely boost as the business continues to grow.
Velvet Mortgages, a family-run business led by Joanna Streames and her daughters, specialises in helping clients secure mortgages and protection policies. Metro Bank’s funding will support two Level 3 mortgage adviser apprenticeships, allowing the company to bring in new talent as it expands its services in Corby and the surrounding area.
The funding comes from Metro Bank’s Apprenticeship Levy, a tax that employers with payrolls exceeding £3 million are required to pay. The levy allows larger employers, such as Metro Bank, to transfer a portion of their contributions to smaller businesses that do not meet the payroll threshold, enabling them to benefit from apprenticeship schemes.
Kerry Reynolds, Metro Bank’s retail and business banking director, explained how the funding came about: “As a community-focused bank, we are always looking for ways to support local businesses. At a networking event, I spoke about how we could assist with apprenticeship funding, and that’s when Rachel and Joanna approached me.”
Reynolds continued, “Metro Bank has been a strong advocate for apprenticeships since 2017, with more than 150 of our own colleagues having completed various programmes. We are delighted to extend our expertise and support to these two Northamptonshire businesswomen, offering not just funding, but also guidance throughout the apprenticeship process.”
For both Encore Environment and Velvet Mortgages, this funding marks an important step in their continued growth. By investing in apprenticeships, Metro Bank is not only supporting the businesses but also fostering new talent within the local community.
This latest move by Metro Bank reflects its ongoing commitment to female-led businesses and the broader local economy, providing critical resources and mentorship to ensure their success in the marketplace.