Industry Analysis & Industry Trends
Over the past five years, the Technical and Vocational Education industry has faced a number of challenges, as various events have significantly changed its operating landscape. Government cutbacks following the economic downturn led to a drop in training four times greater than any other European country, according to the Institute for Public Policy Research. Furthermore, the growing internet-based economy in the United Kingdom and the strong recovery of construction markets have created a serious shortage of skills within the UK workforce. This skills shortage has resulted in a renewed focus on vocational training from the government and has fuelled demand for courses specialising in new skill sets.
A number of policy changes have aided development in the industry... purchase to read more
Industry Report - Industry Analysis Chapter
The Technical and Vocational Education industry has been relatively volatile over the past five years as external economic conditions, governmental changes to the educational funding structure and educational legislation have affected performance. Public-sector cuts adversely affected the industry, as most industry operators are not-for-profit organisations that rely on government funding. For example, funding for adult education was cut by approximately 24% in the academic year through 2015-16; this coincided with a decline in industry revenue of 1.2% through 2015-16. However, high unemployment in the wake of the economic downturn encouraged many to enter training to improve their competitiveness in the UK job market. This helped contribute to high revenue growth of 10.3% in 2012-13. As .. purchase to read more