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Five key steps for Academies to Prosper

19th June 2019

Leading academies advisor, Bishop Fleming, has listed 5 key steps Academy schools looking to prosper can take to be more financially robust. 

The firm, which is the UK’s number one provider of audit, accountancy and advisory services to academies, is holding its annual academies conference this week. And although the event is fully booked, the firm’s academies team also arrange bespoke seminars and workshops for schools who are looking to grow. 

According to Bishop Fleming, five steps academies can take to thrive in this difficult funding climate include creating:

  • clear and timely management information.
  • diverse income sources.
  • a management team trained with the right skills for the job.
  • a prioritised register of risks, with strategies for managing them.
  • centralised processes to minimise costs.

Bishop Fleming Partner and Head of Academies, Pam Tuckett, explained: 

“Working with 10 per cent of all the country’s academies has enabled us to develop and refine programmes for best practice for schools to follow. We cover these in our conferences and workshops, but more importantly we partner with our academy clients to make them work.” 

Pam added: “Clear and focused information helps skilled academy managers to make informed decisions, and there are processes and training which schools can put in place to make this happen effectively. When this is aligned with clear strategies and systems, schools can become far more robust, particularly as the sector waits for the outcome of the next government spending review.” 

The Bishop Fleming Partner acknowledged that whilst many academies are flourishing, others are under pressure over funding, but emphasised that teamwork and a willingness to be creative in finding solutions can result in the right rewards for schools and students.” 

As well as looking after 875 schools in 200 trusts, the firm is the lead author of the nationally recognised annual independent Kreston benchmark report into the academy sector. 

Bishop Fleming has appeared in the ‘The Sunday Times Best 100 Companies to Work For’ for the past four years, and has a Gold status award from the independent customer services agency, Investor in Customers, for its “exceptional” service to clients.

Contact our academies team to see how they can help your trust.

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