Another new academic year has started and one of the many issues
for an independent school is the efficient recovery and management
of school fees which are the bread and butter of any school's
income.
The efficient recovery of school fees is particularly relevant
when the UK is recovering from the worst recession since the 1930s
and many businesses are struggling to survive. This article should
serve as a timely reminder that as well as providing an education
service, an independent school is also a business.
It will be no surprise to hear that the best way to avoid debts
is to try and prevent them from arising. However, this is sometimes
easier said than done when, for example, a school already has a
parent with financial problems and a debt has been allowed to
accrue. This guidance is therefore in two parts; how to avoid debt
situations and what to do when things go wrong.
