Small biz body claims hundreds of London firms wish to hire graduates

FSB demands incentive scheme to reduce recruitment cost


Hundreds of small businesses in London would like to take on graduates – but the cost of recruitment is proving a key barrier.

That is according to the Federation of Small Businesses (FSB), which is urging London mayor Boris Johnson to create a Graduate Internship Scheme for the capital. According to recent statistics, more than 1,500 of the FSB’s London members would take on a graduate intern if they received increased support in doing so. The FSB believes that a new incentive scheme for graduate recruitment would reduce the expense of hiring university leavers, and so eliminate one of the key problems facing potential recruiters. Sue Terpilowski, the FSB’s Greater London policy chairman, said: “The England-wide Graduate Internship Scheme, that came to an end earlier this year, proved highly successful in London, with some interns going on to start their own companies and others being offered full-time positions with the business they worked for. “The investment needed to reintroduce the scheme going forward would be more than outweighed by the contribution that the Treasury would see in reduced benefits payments and the increased tax-take from those that gain employment as a result of the internship. “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.”

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