Boost Your Learning & Development Budget by 50%
23 April, 2025
‘Every little helps’ – Tesco
It’s a familiar phrase, often linked to making your hard-earned cash stretch further at the checkout. But it’s also a reminder that small actions can lead to big changes.
We know that investing in staff skills is a sure fire way to make a positive impact on a business. Increased productivity, maintaining high levels of employee retention, assisting in attracting new talent and even contributing towards positive mental health are just some of the positive impacts of a strong organisational learning and development strategy.
It can also be a costly investment, however, there is support available and no, this isn’t an apprenticeship or personal learning account promotion (although both are excellent options).
This is a Welsh Government initiative offering 50% towards the cost of upskilling staff. What an impact that could have.
Invest and Grow
Who wouldn’t love a 50% contribution to the learning and development budget? Well, this is exactly the offer available from the Welsh Government, to Welsh businesses. The initiative is called the Flexible Skills Programme (FSP).
Fantastic, what’s the catch? You’re likely asking yourself this right now. There isn’t one, except your commitment to invest the other 50%. There is a limit, the Welsh Government will match your 50% up to a value of £25,000, still pretty generous if you ask me. So, for your potential investment of up to £25,000, you could actually create an L&D budget of £50,000. That’s decent and will have a big impact, no doubt.
The application is straight forward, you can find it here.
Employers have until March 2026 to apply and access the funding. So, invest a little time and create a learning programme that makes a big impact on the workforce.
What about fintech?
There are 7 identified industry areas that are eligible for support, this includes, advanced digital skills and net zero skills. Flexible, is an accurate description of what skills development can be accessed. The plan could include courses in:
- Artificial Intelligence
- Software development
- Data science&analytics
- Cyber security
- Project Management
There is also the freedom to choose the right provider to deliver the chosen course(s). Why not look to the FinTech Wales ecosystem for support? There are some great education and learning providers who can help. They may also have access to other forms of funding and support. To save time, they can be found on the FinTech Wales website. We know them, so reach out and we will make the connection.
Next Steps
An easy to follow suggested to do list, just for you:
Communicate: Speak to teams, managers and the L&D department about the skills gaps that currently exist.
Choose – Do some research on the types of qualifications out there that meet those needs. Speak to different providers on the provision that they offer to businesses.
Connect – Contact with the FSP team and speak to them about the businesses L&D plans, they will be able to give more information about funding and the process involved.
Apply – Complete the application form and submit the chosen courses where funding is required
Learn and implement – Support employees through their learning journey and give them plenty of opportunities to implement their new skills and knowledge.
So, to finish – the little time spent reading this blog will contribute to the bigger picture of creating a highly skilled, confident and productive fintech ecosystem in Wales. Every little helps to make a big impact.
Please drop me a line if you have any questions about the Flexible Skills Programme.
Relationship Manager, FinTech Wales