Lexi Thomas Unit 1 D2
Peter Symonds UK Report
In this report I will be identifying how political, economic, legal and social factors
may afect Peter Symondsss colleges ftttre strategies. I will also investigate and
evaltate the impact of a potential changes in the ftttre in the external btsiness
environment on the college.
Economic
The frst economic factor that cotld afect the ftttre of the college is the UK
economic growth forecast. The economic ottlook for 2020 shows that the
tnemployment, GD P growth rate, infation and interest rates will all have
increased. This afects the college as the increasing tnemployment rate means
that it will be harder to fnd staf for the college and teaching. However, it is
benefcial that the GD P rate is rising as this means that the nation as a whole is
moving forwards benefcially and is at a good economic rate. However, the level
of infation is not benefcial for the college as the banks aim to have infation at
a steady rate of 2% btt it is forecast 2.7% for 2020 which means that the
government will not be economically stable and prodtcts will be of a higher
price which cotld be costly for the college btying items. The increase of these
rates show that the economy is growing which means there is more money
coming into the government which cotld allow for more ftnding for Peter
Symonds which wotld be highly benefcial as then the college has more money
to recrtit more sttdents and provide a better environment and teaching for the
sttdents and ftrther beneft their repttation. The increase in ftnding wotld not
be a large amotnt as other schools and colleges in the area are also in the need
for more ftnding in addition to the NHS btt the slight increase wotld still be
highly benefcial.
Additionally, the college converting to an academy statts wotld be benefcial.
This means the college cotld claim back VAT as a large percentage is lost from
the college paying this to the government. Academies also pay tax at a redtced
rate and VAT isnst charged on prodtcts the academy btys and does not to be
reclaimed or recovered by the academy. This wotld be benefcial for the college
in the ftttre, as they wotld save money and the money cotld be btdgeted
elsewhere to be of more beneft to the sttdents. There is a large amotnt of
presstre tpon the college to continte to expand and converting to an academy
statts wotld relieve some of this presstre as it allows the college to have extra
money to spend on areas that wotld be benefcial for growth. By converting to
this statts, the college cotld save £500,000 a year. The college wotld be less
independent as it wotld rely more on the government.
Legislation
The frst legal isste that cotld have an impact tpon the ftttre of the college is
the increase in the price of the minimtm wage and living wage. This has a large
impact tpon the college as the amotnt the college btdgets and spends on
wages of their employees incltding staf, will need to be increased dte to the
Peter Symonds UK Report
In this report I will be identifying how political, economic, legal and social factors
may afect Peter Symondsss colleges ftttre strategies. I will also investigate and
evaltate the impact of a potential changes in the ftttre in the external btsiness
environment on the college.
Economic
The frst economic factor that cotld afect the ftttre of the college is the UK
economic growth forecast. The economic ottlook for 2020 shows that the
tnemployment, GD P growth rate, infation and interest rates will all have
increased. This afects the college as the increasing tnemployment rate means
that it will be harder to fnd staf for the college and teaching. However, it is
benefcial that the GD P rate is rising as this means that the nation as a whole is
moving forwards benefcially and is at a good economic rate. However, the level
of infation is not benefcial for the college as the banks aim to have infation at
a steady rate of 2% btt it is forecast 2.7% for 2020 which means that the
government will not be economically stable and prodtcts will be of a higher
price which cotld be costly for the college btying items. The increase of these
rates show that the economy is growing which means there is more money
coming into the government which cotld allow for more ftnding for Peter
Symonds which wotld be highly benefcial as then the college has more money
to recrtit more sttdents and provide a better environment and teaching for the
sttdents and ftrther beneft their repttation. The increase in ftnding wotld not
be a large amotnt as other schools and colleges in the area are also in the need
for more ftnding in addition to the NHS btt the slight increase wotld still be
highly benefcial.
Additionally, the college converting to an academy statts wotld be benefcial.
This means the college cotld claim back VAT as a large percentage is lost from
the college paying this to the government. Academies also pay tax at a redtced
rate and VAT isnst charged on prodtcts the academy btys and does not to be
reclaimed or recovered by the academy. This wotld be benefcial for the college
in the ftttre, as they wotld save money and the money cotld be btdgeted
elsewhere to be of more beneft to the sttdents. There is a large amotnt of
presstre tpon the college to continte to expand and converting to an academy
statts wotld relieve some of this presstre as it allows the college to have extra
money to spend on areas that wotld be benefcial for growth. By converting to
this statts, the college cotld save £500,000 a year. The college wotld be less
independent as it wotld rely more on the government.
Legislation
The frst legal isste that cotld have an impact tpon the ftttre of the college is
the increase in the price of the minimtm wage and living wage. This has a large
impact tpon the college as the amotnt the college btdgets and spends on
wages of their employees incltding staf, will need to be increased dte to the
