The education sector in the UK is changing at a fast pace and the short term outlook is challenging regardless of the stage of provision.
COVID-19 has resulted in A levels and GCSEs being cancelled for 2020 and face-to-face teaching simply stopped. Moving forward from social distancing and massive on-line learning will take time and, going forward, blended learning is likely to be richer in online content as well as the use of technology.
The financial challenges through this period are well known and the next few years are going to be difficult for many providers, though not without some opportunities. The income from fees (or public income) is an issue regardless of stage of provision, the cost of defined benefit pension schemes is an ongoing concern for many but top of the list for most will be recruitment.
When Brexit is overlaid it is easy to see that international recruitment is threatened, in the short term, and whilst the UK demographics are starting to come back up (rising 16 year olds and 18 year olds), for HEIs an increased number of students may take a gap year and international recruitment is likely to be reduced.
Whether you are in the public or private sector we have a dedicated team of experts operating across the UK who are able to support providers in the challenging environment in which they operate.
Our services to the education sector range from audit to divestment, strategic advice at Board level through to negotiating public/private partnerships. Our cyber security team is market leading and our consultancy team has a proven track record of advising on strategic estates strategies / transformational property management (from new student accommodation projects, through to the development of new learning / teaching spaces with links to commercial development).
Our clients include a diverse range of universities, alternative providers, colleges, independent schools, academies and training providers, as well as government agencies and NDPBs. Our work crosses both public and private sectors and runs from nursery to post graduate.
We work closely with the Department for Education, the Education and Skills Funding Agency, and the Office for Students. We also work with a number of key sector bodies, including the British Universities Finance Directors Group and the Association of Colleges.
We provide a wide range of advisory services ranging from strategic reviews, outsourced finance functions, mergers and acquisitions to bank financing (and re-financing).
Our core services in education include:
- Assurance frameworks
- Business case development
- Business services support (accountancy and payroll)
- Cyber security
- Data audit
- Debt advisory
- Due diligence
- e-Business solutions
- Employee taxes
- External audit
- Financial modelling
- Financial viability reviews
- Forensic investigations
- Governance reviews
- Information technology strategy, appraisal and testing
- Internal audit and risk advisory
- Tax planning, compliance, group restructuring and international tax.