Round-table breakfast discussion: finances in the private schools sector – Wednesday 20 April
Around 625,000 children are privately educated by 2,600 independent schools in the South and across the UK.
They contribute £9.5 billion a year to Britain’s economy, providing the full-time equivalent of 227,000 jobs in the UK and generating the equivalent of £133 in tax revenues for every household, according to research based on schools belonging to the Independent Schools Council. http://www.isc.co.uk/research/independent-schools-economic-impact-report
However, caution may be the watchword for some private schools here in the South – they might have to consider amending their business models and reviewing fee levels to attract new students because private education is reportedly the least affordable in five decades.
Funding, cash-flow management, challenges, strategy, personal risk and commercial opportunities, are the sector-specific topics being discussed at an exclusive gathering being held in Hampshire on Wednesday, April 20th.
The breakfast roundtable discussion is being hosted jointly by the South Coast office of Smith & Williamson, the accountancy, investment management and tax group, and regional law firm Coffin Mew.
Starting at 8am and finishing at 10am, the complimentary event takes place at Coffin Mew, 1000 Lakeside, North Harbour, Portsmouth.
Richard Green, the managing partner at the South Coast office of Smith & Williamson, said:
Private schooling fees can range from £11,000 to £30,000 a year, with costs reportedly the highest in five decades and coinciding with the long aftermath of the credit crunch, where families may be earning less than before.
In response to these increasing challenges, successful schools will review and amend their business models accordingly. The event is about identifying better business practices for private schools, such as sharing services to reduce costs.
Miles Brown, managing partner at Coffin Mew said:
Not all private schools are entirely comfortable with a business approach to figures – the event we’re jointly hosting with Smith & Williamson is about hearing the issues and addressing them with positive solutions.
The independent sector educates around 7% of the total number of school children in England, and 18% of pupils over the age of 16, so it has a valuable role to play in driving activity in the regional economies, including here in the South.
To book a place please email firstname.lastname@example.org.