Skills minister and West Suffolk MP Matthew Hancock is urging firms to apply for a slice of a £150million pot to help deliver training.
The Employee Ownership Pilot has already seen £1.9m committed to projects in East Anglia.
Mr Hancock said: “For British businesses to succeed and compete in the global race, they need to have a highly skilled workforce that can meet the challenges of the future.
“I would urge businesses – particularly small companies – to consider how the fund can help them grow, from creating new apprenticeship programmes to setting up specialist training academies.”
For more on the scheme and how to apply visit www.ukces.org.uk/employerownership