Top Marks!

Exceptional Exeter College once again awarded “Outstanding” by Ofsted

Exeter College is celebrating after a full Ofsted Inspection, which has resulted in the College retaining the impressive accolade of Outstanding.

Eight years since its last inspection Ofsted again confirmed that Exeter College is an Outstanding College. The College also scored the top assessment of ‘strong’ for its approach to meeting the skills needs of the area. This makes Exeter College the first college in the country to achieve the highest judgement in both elements of Ofsted’s new enhanced inspections.

The 21-strong Ofsted inspection team visited every College site and reviewed every facet of the College offer at the end of last year.

Exeter College Principal and CEO, John Laramy CBE said: “At a time when the national press is talking about Ofsted raising the bar for their top grade the team at Exeter College has demonstrated that we have sustained Outstanding, even in the new rigorous enhanced framework.

“I would like to wholeheartedly thank everyone who contributed to this exceptional sector - leading outcome, especially our amazing learners, apprentices, staff and governors. Ofsted has recognised what I see from our students, apprentices and staff every single day.”

The College achieved the top Ofsted rating of Outstanding in all four cross -college judgements: Quality of Education, Behaviour and Attitudes, Personal Development, and Leadership and Management. The College’s Sixth Form provision, adult learning and apprenticeships were also rated as Outstanding. The Outstanding grade for apprenticeships is extremely hard to achieve, with very few colleges nationally having attained this.

The report praises the standard of teaching and learning across the College as well as the standards of behaviour and culture, citing that teachers and other staff are excellent role models who work tirelessly to meet the needs of learners.

Zakia Volschenk, from Exmouth, is studying A Levels at Exeter College and is part of the Learner Leadership Team. Speaking about the Outstanding grade, she said: “I believe it’s welldeserved and feel extremely proud to be a part of a constantly developing institution that really takes into consideration the student’s opinions. I know that the opportunities at Exeter College will give me an advantage when it comes to applying to university or finding future jobs.”

What can businesses expect in 2023?

Doom and gloom is easy to find in the news right now. We had all hoped 2022 would be the year of growth and businesses re-opening fully after the pandemic. But it became a year of war, rising costs and a global energy crisis which has led to increased interest rates and taxes.

However, the data actually shows that the economy has held up better than the forecasts.

Looking ahead

We can expect a bumpy ride for 2023, the economists’ expectations are:

For the country to be formally in a recession over the first half of 2023, many feel we are already there

A slow recovery with lack of consumer confidence

Inflation to continue to fall but not hitting the 2% government target until 2024

Interest rates due to still rise to around 4-4.5% and then stabilise, but the days of low interest rates have gone for the medium-term

Higher repayments on mortgages and other variable rate borrowing

However economic forecast is not set in stone, they can’t forecast unforeseen events – of which we have seen many recently!

Perspective is everything

When there is heightened negative news flow, perspective is everything. We need to see the economy as a cycle. Looking at the big picture, for where we will be in the long-term is what matters ultimately. However, to do this the short-term foundations need to be in place.

There will be pressures on finances and cashflow but keeping on top of your business pricing and costs will allow you to hold tight. There will be opportunities that arise for nimble businesses and being ready to take advantage is key.

Lending market predictions

Small and medium sized businesses will still have a demand for borrowing money, they rely on this to grow their businesses through investment and correct working capital options

Different finance companies, other than the traditional banks, will be key to financing these businesses as they have many different options available

Businesses may still find it hard to borrow, as some have high debts already. As at the end of September 2022 outstanding loans to SME’s was 22% higher than in January 2020.

Businesses will need to look at restructuring these debts and reducing monthly payments by consolidating the debt and maybe even extending the term.

Finance companies will continue to be driven by affordability and serviceability when accessing finance requests

The role of a good commercial broker will add value to any business as they will be able to speak to all the various finance companies and provide the best solution.

Colin Chastey