An apprenticeship program calls for financial considerations by both the apprentice and the employer. The decision to participate in an apprenticeship program can have financial implications, as well as requirements related to time management and education for the apprentice. Choosing to hire an apprentice presents distinctive challenges for small to medium-sized business especially in terms of financial management.
Fortunately, there are many financial supports tailored to meet the needs of employers in the construction and manufacturing trades. Some are federal government supports, others are administered by provinces and territories, and others are available for both employers and apprentices at local and regional levels.
These various levels are why there are many financial supports available for both apprentices and employers. Facilitating apprentices’ understanding and access to financial supports significantly enhances their likelihood of successfully completing the apprenticeship, while also increasing employer retention long after the program.
Funding for Apprentices
Help apprentices overcome financial challenges and successfully complete their programs. Explore these links for financial support:
Canada Apprentice Loan: Provides up to $4,000 in interest-free loans per period of technical training. Apprentices can use the money to help pay for tuition, tools, equipment and living expenses, to cover forgone wages, or to support their family.
Apprenticeship Incentive and Completion Grants: Provides up to $8,000 to become an apprentice with a variety of funding available for equity-deserving groups, and different stages of the apprenticeship. Apprenticeship loans are also available.
Employment Insurance (EI) for apprentices: Provides benefits while unemployed and attending technical training.
Tax deductions and credits for apprentices: Provides deductions for tools, tuition fees, and education and textbook costs.
School of Trades and Apprenticeships | Apprentices | Incentives/Grants (conestogac.on.ca)
School of Trades and Apprenticeships | Pathway (conestogac.on.ca)
Find information on funding programs and services for apprentices delivered in your area:
Funding for Employers
As an employer, grants and incentives can help you pay for things like wages, tools, clothing, personal protective equipment (PPE), and training an apprentice on specific equipment or skills needed for your workplace. They can also be used for recognition incentives for an apprentice’s progress, completion, or milestones as well as for a credit on federal taxes.
Navigate Finances
From estimating costs and budgeting for wages, to understanding government incentives and potential grants, there is a lot to consider. Hiring an apprentice can be a rewarding investment overall, but preparation is key. It is important to learn how to navigate the financial aspects of hiring an apprentice to ensure a successful and sustainable partnership for your business.
Information and resources on financial support can be confusing, as they may vary depending on the identity or characteristics of your apprentice. There may also be specific .
Connect with local ally or advisory organizations that can help you and your apprentice
Business supporting organizations and associations can also provide assistance with hiring an apprentice. See the links below for other resources that may be available to you:
Career Launcher Apprenticeships: Our program has ended. Thank you for your interest.
Canadian Federation of Independent Businesses – Information for employers on how to access funding and financial assistance when hiring an apprentice, and tips and strategies to improve your hiring and recruitment decisions.
School of Trades and Apprenticeships | Employers (conestogac.on.ca)
Government of Canada: Deduction for tools (tradespersons)
