PRESS RELEASE
Independent teachers, trainers and tutors to benefit as
British parents seek help for their children outside...
Media contact: Roberto Napolitano, +44 (0)20 3008 4406, rnapolitano@finaccord.com
Notes to editors:
Finaccord is a market ...
Table: The five fastest growing and five fastest declining business
segments by approximate number, 2009 to 2013 and 2013 ...
of 3

Press release small business segments independent teachers, trainers and tutors to benefit as british parents seek help for their children outside classroom

Independent teachers, trainers and tutors are likely to be the fastest-growing segment within the small business community in the UK in terms of the number of enterprises between 2013 and 2017, according to a new report published by Finaccord. At the other end of the scale, retailers of books and music, electrical appliances and sports goods are likely to experience the steepest decline in number.
Published on: Mar 4, 2016
Published in: Business      News & Politics      
Source: www.slideshare.net


Transcripts - Press release small business segments independent teachers, trainers and tutors to benefit as british parents seek help for their children outside classroom

  • 1. PRESS RELEASE Independent teachers, trainers and tutors to benefit as British parents seek help for their children outside the classroom London, 16 October 2013 - Independent teachers, trainers and tutors are likely to be the fastestgrowing segment within the small business community in the UK in terms of the number of enterprises between 2013 and 2017, according to a new report published by Finaccord. At the other end of the scale, retailers of books and music, electrical appliances and sports goods are likely to experience the steepest decline in number. Finaccord estimates that the number of individuals and small enterprises in the segment of independent teachers, trainers and tutors will increase from around 165,000 in 2013 to 202,700 in 2017, representing a compound annual growth rate of 5.3%. The segment comprises self-employed individuals and companies who provide academic, dramatic, musical or personal fitness tuition and training. “This segment has already seen high growth in the past four years as demand for supplementary education was not impacted by the economic downturn. In the foreseeable future, this trend is likely to continue as parents increasingly turn to private tutors either as a substitute for private schools when they cannot afford school fees or as a help for their children to get into private schools,” comments Bernd Bergmann, a consultant at Finaccord. “The number of self-employed individuals in this segment is also boosted by the fact that this occupation provides a high degree of job flexibility as people work full-time or part-time, and part-time tutors may combine this with another occupation", adds Mr Bergmann. Other small business segments expected to undergo significant growth in the next five years are specialised private medical practices and clinics which are expected to grow at a compound annual rate of 4.9%, and marketing and advertising firms and designers which are forecast to increase at a rate of 4.8% per year. Meanwhile, the research also indicates that book and music retailers are expected to experience the steepest decline as their number is forecast to decrease from around 6,400 in 2013 to 5,600 in 2017, representing a compound annual rate of decline of 3.4%. “The segment has already experienced a substantial fall in recent years as online shopping erodes revenue for specialised book and music shops and this trend shows no sign of stopping,” continues Mr Bergmann. A similar logic applies both to electrical appliance retailers and repairers and to sports goods retailers as online competition also leads to a reduction in the number of enterprises in these segments. Finaccord forecasts that electrical appliance retailers and repairers will decline at a rate of 3.2% per year up to 2017 while sports goods retailers are expected to decrease at an annual rate of 3.1%. Nevertheless, in overall terms, Finaccord predicts that growth in the number of small businesses with a turnover of up to £5 million in the UK will accelerate in the near future as the economy continues to improve. The total number of small businesses and self-employed individuals (including charities and community and voluntary organisations) is forecast to grow from 5.48 million in 2013 to 5.82 million in 2017, representing a compound annual rate of growth of 1.5%. “This research is designed to give a clear snapshot of a vital section of the UK’s economy. Whilst businesses in several segments have experienced a downturn, looking to the future and investing in those areas that are set to expand offer real prospects for the future,” concludes Mr Bergmann. --- END ---
  • 2. Media contact: Roberto Napolitano, +44 (0)20 3008 4406, rnapolitano@finaccord.com Notes to editors: Finaccord is a market research, publishing and consulting company specialising in financial services. It provides its clients with insight into and information about major issues in financial services in the UK, Europe and globally, with a particular focus on marketing and distribution topics such as affinity marketing, bancassurance and strategic alliances. Finaccord’s report and interactive database titled Small Business Segments: Marketing Business Insurance to Major Professions and Trades in the UK casts new perspectives on the market for insurance acquired by small businesses and self-employed individuals in the UK. With a focus on enterprises with an annual turnover of up to £5 million, the research sizes the market both in terms of the actual number of insurable enterprises in each of 105 major professional and trade segments and the value of their business insurance expenditure each year. The complete list of segments analysed can be viewed here. The study also offers a breakdown of this data across three annual turnover bands (enterprises with an annual turnover of up to £100,000, enterprises with an annual turnover of between £100,000 and £1 million, and enterprises with an annual turnover of between £1 million and £5 million) and provides ‘backcasts’ to 2009 and forecasts to 2017 in order to provide a time line across nine years. Graphic: Forecast growth in the number of small enterprises in the UK, 2013-17 Number of enterprises (million) 6.0 5.56 5.48 5.64 5.73 5.82 2016 2017 4.8 3.6 2.4 1.2 0.0 2013 2014 2015 Source: Finaccord Source: Finaccord Trade Credit Insurance Broker Survey
  • 3. Table: The five fastest growing and five fastest declining business segments by approximate number, 2009 to 2013 and 2013 to 2017 Segment CAGR, 2009-2013 CAGR, 2009-2013 Five fastest growing, 2009-2013 Scrap and waste disposal services Independent teachers, trainers and tutors Complementary medical practices Specialised private medical practices and clinics Domiciliary care providers 5.9% 5.9% 5.5% 5.5% 5.5% Five fastest declining, 2009-2013 Manufacturers of building supplies Fuel retailers Bookmakers and other gambling services Electrical appliance retailers and repairers Financial intermediaries Segment -3.9% -4.0% -4.2% -4.6% -5.3% CAGR, 2013-2017 CAGR, 2013-2017 Five fastest growing, 2013-2017 Independent teachers, trainers and tutors Specialised private medical practices and clinics Marketing and advertising firms and designers Pest and vermin control services Domiciliary care providers 5.3% 4.9% 4.8% 4.8% 4.6% Five fastest declining, 2013-2017 Manufacturers of other products Manufacturers of clothing or footwear Sports goods retailers Electrical appliance retailers and repairers Book and music retailers Source: Finaccord Source: Finaccord Trade Credit Insurance Broker Survey -2.6% -2.7% -3.1% -3.2% -3.4%

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