2015 is looking up and the end of Term 1 is already quickly approaching us! Over the years, we have seen many trends in Government spending, which of course affects results and buying decisions by each state and the schools themselves. We can’t deny that these Government decisions, periods of uncertainty and changes to national or state curriculum don’t affect you, ‘The Marketer’…. They do!
There was a lot of uncertainty in instability in Government throughout 2014. With lack in consumer confidence in Government, implementation of the new national Schooling Resource Standard (SRS) Funding Model in most states, in NSW the introduction of the Resource Allocation Model (RAM), Year 7 moving to Secondary School in Queensland, and changes to curriculum in most states all in all contributed to overall slowing in school spending.
However, with 2015 is off to a great start, we are seeing a significant improvement in overall confidence within the education sector, and feedback from clients is that response rates are increasing again. In Queensland alone, the Government will invest $183 million in 2015 in additional funding for state schools to improve overall student performance. This initiative is part of a program called the ‘Great Results Guarantee’, introduced in 2014, will be a four-year funding initiative. A highlight of this new program will be that schools will have the flexibility and autonomy to decide how funding is invested in 2015. View more on the Queensland Great Results Guarantee and gain some insight into how your business could leverage off these greater outcomes.
2015 will also see significant changes in funding and decision making within most schools nationally, with the SRS Funding Model implemented in 2014, five state and territory governments so far have taken to adopt the new model, NSW and VIC will continue to use their own funding models, however still within the larger SRS model framework. What does this mean? Essentially, a minimum standard for schooling resource will be implemented with additional loadings/funding to address educational disadvantage.
Starting this year, was also the introduction of year 7 to secondary schools in Queensland with the goal to bring all states in line with the national Australian Curriculum. This means greater funding and resource allocation to secondary schools, and importantly greater national consistency across education standards. According to an article in the Courier Mail, around $ 293 million has been allocated for recurrent funding to accommodate the growth in secondary students.
With 2015 looking to stabilise throughout the education sector, new opportunities present for industries providing goods or services targeted at schools. According to an article published in the Burlington Free Press, in 2015 the average school budget increase this year will be 2.95 percent, with the average increase cost per student to be 3.11 percent, so with this and Government goals and outcomes in sight, now is the time to promote your business to this industry! Contact us to discuss our school list service and access to Australia’s most up to date and current education lists.
