About the Skills Bank

The Skills Bank is an exciting new service which invests in skills and expertise to drive business growth.
The Skills Bank will bring about a new culture in the skills system by empowering employers to choose and invest in the skills that they need. It is a £17 million fund, comprising of funding from the European Social Fund and Growth Funding.
Key features of the Skills Bank include:

  • Specialist support via a dedicated helpline
  • A bespoke economic impact model to assess the growth potential of Skills Deals and determine employer contribution and matched funding up to two thirds the cost of training
  • A network of brokers and a skills assessment tool to support employers in defining their skills needs
  • An approved list of providers that guarantees quality and value for money
  • An online community with relevant feedback to explore the best training in an area

About the Sheffield City Region

The Sheffield City Region comprises of nine local authority areas: Barnsley, Bassetlaw, Bolsover, Chesterfield, Derbyshire Dales, Doncaster, North East Derbyshire, Rotherham and Sheffield.

Sheffield City Region employs over 700,000 people across 44,700 businesses in a diverse economic area across industry sectors. The region provides the base for nationally important sectors such as advanced manufacturing, engineering and materials. Equally, the Sheffield City Region has a strong economic base in creative and digital, low carbon, health care technologies and aerospace technologies. These sectors are expected to contribute significantly to an increase in the city region’s Gross Value Add (GVA) although with relatively low levels of employment growth.

Skills are a key element of the Sheffield City Region Strategic Economic Plan, which will be transformational and over the next 10 years, and will:

  • Help to increase GVA by 10% and by £3 billion
  • Create 6,000 new businesses and 70,000 new jobs, which address a shortfall of around 30,000 higher skilled people
  • Support a new culture of employers investing in skills
  • Drive sustainable growth and increase productivity in the region

About the Skills Bank Operator

PwC have been appointed as the Sheffield City Region Skills Bank Operator (Skills Bank Operator) via a competitive tender. The key responsibility of PwC is the management and operation of the Skills Bank. The key components of this are procurement of training providers, employer engagement and marketing, operation of triage and brokerage services, supporting development of Skills Deals and overall contractual, performance and financial management of the fund.