How can you prepare for the financial implications of the upcoming legislative changes, including the levelling up skills bill? The Skills and Post-16 Education Act and Levelling Up and Regeneration Bill put increased focus on the role of skills in levelling up and driving economic growth across the whole country.
There are significant financial challenges for FE and skills providers posed by local skills improvement plans driven by employers, including the increased focus on level 3 and above technical qualifications, more devolution of funding for adult skills and greater intervention powers for the Secretary of State for Education.
Cuts in funding for young people, adults and apprentices impact on providers in different ways and organisations will need strategies to secure and optimise their sources of funding, as well as improve the efficiency and effectiveness of their operations:
- Reviewing new and alternative funding channels and understanding all the support provisions available to you;
- Structuring courses to gain the full benefits of funding and ensuring their timely application; and
- Reviewing your commercial and income fees
Are some of the ways you can prepare for the financial implications of upcoming legislative changes.
In our webinar: ‘How to prepare for the financial implications of the upcoming legislative changes’ Beej Kaczmarczyk, our apprenticeship expert, outlines some options for rebasing finances around core activities and re-engineering training, assessment and support processes that will enable providers to take advantage of the opportunities provided by legislative changes, many of which depend on the quality of your organisation’s business and performance data. Danny Taylor, our Business Development and Sales Director will be highlighting ways Smart Assessor can help manage these issues.
In this webinar, Beej also considers how providers can respond to these challenges and the recent pressures on the costs of education and training. Register here to learn more.
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