Staffordshire University invests 1/2 million VAT windfall to boost job and business prospects

Staffordshire University is today launching an innovative new 1/2 million scheme which offers practical help to local firms and individuals hit by the recession.

The forward-thinking University is investing its 1/2 million VAT windfall back into the community to give local people hit by redundancy, and local businesses, access to thousands of pounds worth of vital training through their new Working Futures Fund.

The windfall was generated by Novemberís VAT rate cut and the University is believed to be one of only two educational establishments in the country to be reinvesting the unexpected cash windfall in this way.

Explains Cathy Gilbert, Director of Sales and Recruitment: ìWe have seen so many local organisations forced to lay people off in recent months and there is a real need for us to react quickly to help. As the primary education and training organisation in the county, we believe we have a genuine responsibility to help the local community through these tough times.

ìThe VAT windfall is an unexpected bonus for us and as the cut was designed to kickstart the economy, thatís exactly what weíll be doing. Weíre investing in the local area to support individuals and employers and ensure the regionís workforce comes out of the recession with stronger skills and better equipped for the future.

ìAs the recession begins to hit, people are probably going to be unemployed for longer than they expected and they need to take action to put themselves in the best possible situation to secure work. Our role is to make sure people are upskilling and to make sure organisations retain a strong, well-trained workforce.

ìThe University is certain that giving financial support to individuals and companies now will help to kickstart a recovery and ensure we emerge from the recession with strength.î

Staffordshire Universityís Working Futures Fund will earmark up to 3,000 funding per person for individuals who are out of work, or people in work who want to gain new qualifications or skills.

Adds Cathy: ìThe recession is indiscriminate – it can hit people who have been in the same job for decades, or people in the early years of their careers. Often people see the University as a place where you can just get a degree, but we have hundreds of courses and qualifications which will put people at the front of the queue in their quest for new jobs.

ìWe can either support individuals within organisations that may face losing their jobs; people who are on short time working, or people who have lost their jobs like those who worked at Woolworths and other companies in similar situations.

ìFor employers too this is a great opportunity to tap into funding which can make a big difference to their business – with some courses specifically designed to help staff work through and solve real business problems. This funding should ensure they come out of the recession with a stronger, better trained and more motivated workforce.î

Ken Stepney, Learning and Development manager for JCB said: ìWe have an excellent working relationship with Staffordshire University and are delighted to hear that the University is working hand in hand with employers and individuals alike to lessen the impact of the economic downturn. Training is a vital part of any companyís continuing development and we will be exploring opportunities with the University to help our staff take advantage of this funding.î

For further information about the Working Futures Fund and courses/training, contact Staffordshire Universityís Business Evolution team on 01782 294178 or email c.watson@staffs.ac.uk