Funding cuts have affected schools right across the country. With direct knock-on effects, how can schools start generating some much-needed extra income?
According to, over £2.8bn has been cut from school budgets since 2015, giving schools just cause for concern. As cuts to secondary school’s average at £185.2k per school and £45.5k per primary school: it’s no surprise that schools are looking externally to generate extra cash.
are leaders in the education industry and have collated a simple guide to help schools start generating additional revenue. These simple tips can provide the cash injection that education providers are looking for.
Hold Charity Events
Schools across the UK have already begun holding fundraisers and charity events. Not only does it generate additional revenue, events are also a great way to involve and educate the community. Gaining the support of local businesses and parents is crucial to schools, especially as school changes directly affect most of their children.
Not all charity events need to be elaborate and take months of planning - simple things like coffee mornings, bake sales or dunk the headteacher can all bring people aboard. After all, almost everyone is tempted by a delicious piece of cake.
Hire Out Unused Spaces
Classrooms, sports halls and gyms can all be hired out when not in use. This makes use of the largest asset schools have available: their space. There are some easy to use software systems available on the market to make letting your spaces even easier. Ourallows hirers and schools alike to book the spaces they need with minimal effort.
The management, monitoring and reporting of the booking processes are simplified by using Lettings software.have already started letting their spaces out to generate additional revenue, whilst this number sets to increase daily. In a , over 73% of the schools surveyed are letting their facilities.
Work Smarter Not Harder
Reducing staff is one of the hardest decisions a school can make, especially when all staff are already spread thin. Instead of reducing staff numbers, schools can use technology to make their everyday tasks even easier. Spending a small annual cost on Tucasi modules makes the everyday tasks that staff carry out take less time, therefore, increasing efficiency.
Tucasi was originally founded by school finance governors, as we know that financial management is one of the most time-consuming tasks in schools. Making the reconciliation process easier was one of our key foundations and we’ve helped countless schools in over 14 years. Now schools can manage incoming and outgoing funds in a streamlined manner.
Apply For Grants
Although funds are scarce, there are some available grants depending on what region the school sits within.
The nature of the grant can vary, and funding is sometimes available to empower specific projects or initiatives. There is some key guidance available for schools when applying for funding applications,.
Work With Local Businesses
Local businesses are actively seeking opportunities to make a difference in the communities they work within. Be it a pen company that can supply some old stock, to sports equipment providers - the best methodology is to perform some community outreach.
Using your school’s website to let your community know you are open to partnerships is a good start and will encourage local businesses to reach out. Better still, simply picking up the phone and asking for donations could bring some fantastic results. Further information, ideas and case studies of schools generating income from businesses can be found onsite.
To conclude, there is a wide range of alternative methods available to generate some additional revenue for your school. To make the most out of these opportunities, it is best to weigh up the time, effort and expected return.
To find out more about the Lettings module or any of the other products mentioned, please contact Terry Brown on 02380 016563 or email firstname.lastname@example.org
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