Save the Graduate Internship Scheme

The Federation of Small Businesses has today urged the Government to extend the Graduate Internship Scheme, which is due to expire in March.

Since the scheme launched in February 2010, it has helped 8,500 graduates to work in paid internships with small businesses in the UK. The figures from FSB reveal that 25 per cent of the graduates undertaking internships were offered full-time employment after their placement, while Inspiring Interns’ own experience is that around 65% of interns earn full-time jobs at their host company.

Last week saw further figures showing that unemployment figures are continuing to rise, with young people being hit hardest. The FSB says, “Unemployment in early life has a lasting impact, locking people into lives of low earnings and the recurring risk of unemployment. The Government will need to be bold and imaginative to avert this disaster.”

Against this backdrop, the Federation of Small Businesses deems the withdrawal of state-support for internships to be a mistake. They are urging the Government not only to retain the scheme but extend it to a further 5,000 graduates. The FSB believes the scheme can provide a good return on investment, reducing benefit payments and increasing taxes if the internships lead to permanent jobs.

Chairman of the FSB, John Walker, said: “The current graduate internship scheme has proved highly successful, with some interns going on to start their own companies and others being offered full-time positions with the business they interned for.”

“The UK’s young people are the future of the economy, yet we are seeing youth unemployment approaching one million. It is time that the Government invested into this vital sector so that we don’t see a generation of youngsters consigned to the dole queue”.

The Graduate Internship Scheme is an opportunity for graduates to gain experience and contacts within industry, enhance their CV, and ultimately boost their chances of permanent employment. This scheme not only gives them great work experience but also supports them financially.

Inspiring Interns fully backs the Graduate Internship Scheme and feels it will be a huge shame if the Government chooses to scrap the programme.

For more information on Inspiring Interns’ own positions please see http://www.inspiringinterns.com/interns/internship-offers/

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