Education Leads Way in Growth Sectors
Submitted By: Steve Drake
Published: August 2011
While ours is not a perfect situation, and while we are certainly feeling the effects of an ill economy and unemployment approaching ten percent in many areas nationwide, education as a whole is faring very well – and the future looks even brighter. That’s what researchers and business analysts are saying, at any rate.
According to the U.S. Department of Labor, private educational services, including education consulting businesses and tutoring and learning centers, are expected to grow by almost 29 percent through next year. And according to a recent report from IBIS World, a publisher of U.S. industry research, the education sector is one of the five sectors it believes have greater than average potential. In particular, the IBIS World report cited the education testing and test prep industry, which it said grew at an annual rate of more than 6% over the last five years, and which it believes will achieve annual growth of more than 5% for the next five years. Other education markets showing robust growth include trade and technical schools, as well as business coaching.
Finally, HowToStartUp.com, a website for budding entrepreneurs, ranks “education and health services” as the second-most promising sector for individuals wishing to start a new business (only “service-providing industries” ranks higher).
How do these analyses and projections compare with your organization’s experience? Do we as a sector have reason to be optimistic – or should that optimism be tempered by the reality of government, public education and consumer spending cuts?
Enterprising Educators invites you to be part of the conversation. Please go to EIA’s LinkedIn site -- http://tinyurl.com/3lmrb3s -- (of course, please join if you haven’t already done so), and register your opinions/perspective on the question: “Should the private educational services sector be optimistic about the future? What do we need to do to ensure longer-term growth?”
About the Contributor
Steve Drake provides corporations, small businesses, non-profits and government agencies with targeted, expert and cost-effective communications, marketing and business development strategy and implementation. He holds both a Master’s and Bachelor’s degree in journalism from the University of Maryland, where he currently serves as an adjunct professor in the Department of Communication. He speaks and writes on a range of communications topics, including public relations in China, international public relations, and strategic thinking.