Industry Analysis & Industry Trends
The Technical and Vocational Education and Training industry has undergone significant structural and government funding changes over the past five years. The Federal Government has increased grants to the industry under the National Partnership Agreement on Skills Reform and pushed for state governments to reform their vocational education and training (VET) markets. A government shift in some jurisdictions from funding only state-run TAFEs to offering competitive funding for providers based on student demand has led to an increase in the number of private providers operating in the industry. Overall, industry revenue is forecast to increase at an annualised 2.2% over the five years through 2014-15, to reach $10.3 billion in 2014-15. This includes growth of 1.6% in 2014-15... purchase to read more
Industry Report - Starting a New Business Chapter
The industry has moderate barriers to entry and these have been decreasing over the past five years as state governments have opened up the market by increasing the level of competitive tendering. By allowing students greater choice, these changes have enabled private providers to gain increased market share. Although industry concentration is low, operators still need to establish a strong reputation in order to attract students. Developing a good reputation can take time, and this can deter new entrants. Capital intensity in the industry is low, but significant investment is required initially to secure land, buildings and classroom equipment.
The Department of Education has established a national vocational education and training framework, with associated regulations... purchase to read more