Controversial plans to remove independent school’s charitable status by 2020 will hit around 50 schools across Scotland, placing them at a huge disadvantage, leading us to question ‘How can we help them to survive?’
The charity relief currently trims around 80% off rates – meaning some of the country’s best known schools like Heriot’s, Watson’s, Gordonstoun and Fettes College could face bills running into six figures. But with fee levels at independent school’s already rising well above the rate of inflation (21% in the last five years), how will Scottish independent schools survive?
MTM Managing Partner David Cardle offers his advice:
“Schools need to start contingency planning now. It cannot be assumed that parents will just pay additional fees. We know from our work with over 180,000 independent school parents that for many, sending their child to a private school means considerable sacrifice.
Schools need to start looking at creative ways to make savings and adapt their provision. Financial advice on reducing costs without diluting standards here will no doubt be invaluable to their future success, but understanding your market is more important than ever.”
At MTM, we’ve been working with a number of schools to assess the best way for them to plan for their future. We’ve researched parent groups, through focus groups and parent surveys, to determine whether parents of a school would rather pay additional fees, or look at a reduction in provision, enabling the individual school to clearly map out their strategy.
Whether you’re looking for financial or strategic advice, market research or perhaps, don’t know where to start, call us on 01502 722787 or email email@example.com