Australia attracts a remarkable number of international students. Students at all levels from all over the world are flocking not only to universities, but also to institutes and private colleges. And it is little wonder why – Australia is internationally renowned for providing the highest level or education and training. New Australian campuses are even opening overseas.
In 2017, 454, 711 international students were enrolled to study in Australia. In 2018, this number jumped to 509, 610. The large majority of these students are from China, India, and the rest of Asia, and are willing to pay the required fees and costs for a quality education.
Despite negative press, the government has ensured that regulatory reforms have strengthened the industry. This, in combination with rapid advancements in online learning and new technology, has seen fresh commencements surge from 86,399 in 2014 to 149,442 in 2018. Calibre’s experience in the education sector can help start-ups ride this wave and established education providers secure growth.
Can you balance student demand with business demands?
If you do not know how to meet the compliance and business demands of the education sector then no amount of student demand for your services is likely to secure your financial future in the long term.
- Do you know how to demonstrate financial stability in a way that meets changing regulatory requirements?
- How well integrated are your student management and financial accounting systems?
- How do you ensure you are not leaking payroll funds with respect to you academic, administrative, and marketing staff?
- How confidently have you secured your relationships with international student agents in the long-term?
- Have you planned well your cash flow, considering significant fixed cost outlays and marketing spend? Can you use the EMDG to take your courses overseas?
The rush of international students to Australia brings challenges to education providers, but also fresh options.
Advisors and Accountants who understand education
Calibre Business Advisory has helped a number of education providers not only start strong, but secure their position in the industry.
- We provide audit and assurance services that are expert in demonstrating the financial capacity of education providers so that you stay compliant.
- We have tax advisors with a great deal of experience in helping education providers plan ahead for tax.
- We have highly regarded education experts at hand to provide valuable input from an academic and operational point of view.
- We are experienced in developing and implementing accounting and finance systems to make sure you stay on top of your finances.
- We can help you access grants such as the EMDG so that you can tap into export markets and take your education provision overseas.
There is little point in engaging business advisors and tax accountants who do not have experience in the Australian and international education sector. If you are involved in education, contact Calibre to discuss new options for securing and growing your business.