Part 4.3 Financing the Plan
The e-skills NTO is a not-for-profit organisation which ploughs any surplus back into the business. In order to deliver successfully on this strategic plan, the NTO must continue to grow its capability, its partner networks and its financial underpinnings.
The organisation has two types of income:
Project Income
Projects are sponsored by a wide range of parties whose interests can be furthered by the e-skills NTO. Government, regional and local agencies, the European Commission and education bodies all fund specific initiatives, in partnership with collaborations of employers, who commit both funding and investment of time. This activity will continue to increase, with the NTO actively seeking partners whose priorities align with those of this strategic plan.
Services Income
Services revenues cover cost of delivery plus a margin for core business costs which are not specific to individual projects. Growth of ongoing services underpins the NTO's operation and cash-flow.
Primary income streams are:
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e-skills NTO Membership fees from employers and education establishments
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Awarding Body fees for qualification assessments and other services
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Publications & Products
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Consultancy services
This plan outlines a public/private partnership over three years, providing a framework for a more strategic approach to future investment of public funds, in line with increasing employer engagement. The funding commitments necessary to support this plan are in development.
"We've got off to a great start, with £4.5M income in the first nine months of trading. This shows how much support there is for the initiatives we are working on. But to maintain our strength, we must continue to broaden our sources of income in line with our increasing responsibilities."
Clara Lee,
Finance, the e-skills NTO
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