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I was privileged to attend the 2023 ITECA VET Business Summit in Melbourne. My key takeaways from the summit are: Growing Student Participation: An apparent increase in the number of students enrolling in skills training, particularly with Independent RTOs, indicates a broadening horizon in the skills training space. While Victoria's approach has predominantly revolved around TAFE, the rise of independent RTOs shows the diverse and inclusive path the industry is taking. Shifting Funding Patterns: Victoria's increased investment in skills training is evident. However, the proportions allotted to independent providers have seen fluctuations. The three-pillar funding model, comprising Commonwealth Specific Purpose payments, State Government recurrent funding, and National Partnership Agreement funding, shows strategic allocations across various sectors. Equality is Important : Independent RTOs have emerged as leaders for fairness in education. Their remarkable support for students from rural and socio-economically disadvantaged backgrounds matches the spirit of inclusive education. Excellence as the Norm : Independent RTOs have built a reputation for delivering top-tier education. Compared to public providers, they have outperformed them in several satisfaction measures, establishing their central role in setting high educational standards. The Reform Wave: The summit highlighted the upcoming reforms meant to refresh the VET landscape. From changing funding agreements and introducing the STARS data system to updating VET qualifications and workforce strategies, the future promises a more efficient, quality-focused, and student-centred VET system. In summary, the 2023 VET Business Summit highlighted the changing trends in the skills training sector in Victoria. The summit was a mix of thoughts on past successes and plans for future growth; all focused on improving quality, fairness, and student independence.

Last week, I spent three great days with over 300 delegates at the ITECA Conference at Gold Coast . ITECA is the prime association to represent independent providers in Vocational Education and Training industry. My takeaway from the conference: The country is currently going through a skills shortage, and the government needs to reskill Australia before creating jobs. The private sector plays an essential role in reskilling with a higher overall student and employer satisfaction level but a smaller percentage of government funding. We need to change the conversation with the new government based on outcomes that private providers achieve and demand better funding for independent providers. Required Skills: Demands in emerging industries require new skills, and digital skills are essential for any industry. We are not talking about high end IT companies, but a basic certificate III with digital skills to align with real-world needs. The employers want an apprentice trained, not just a worker on the desk who does not know what to do. Microcredentials are also offering great opportunities for the existing workforce. Staff Shortages: Attracting and retaining trainers is more challenging than ever. Possible strategies include training a current trade to become a trainer assessor, contacting a previous student to become a trainer, or returning and reskilling the retired workforce. Regulation: Regulator’s focus is on Self Assurance and engaging in continuous improvement. ASQA does not want to force or tell the industry how to comply but wants to teach how to comply. It expects providers to be familiar with the obligations and rewards training providers who fit in the low-risk category. A lot of improvements are implemented for easy compliance. It was an excellent conference. The speakers provided great value in the sessions, and I hope you enjoyed the snapshot. Reach out if you need assistance with completing the FVRA tool or financial/accounting advice.

I'm an accountant who assists RTOs with Financial Viability & Risk Assessment for their registration renewal. If you intend to renew your registered training organisation (RTO) registration, you must submit a completed application to renew registration at least 90 days before the expiry date of your registration. Let's meet for a discovery session to chat about your renewal? Right now, on-demand or whenever you're ready. No strings attached. You may also be interested in my recent blogs on FVRA Tooltips, discussions on RTO trends, employee vs contractor and benefits of an SMSF. We are always here for advice and look forward to helping you with your RTO needs. Shiv Jaidka Chartered Accountant | RTO Accounts

Very excited to share my interview in the VET Sector Newsletter . I talk about the significant financial issues facing RTOs. The VET Sector is Australia’s leading independent provider of the latest information, views and news regarding vocational education and training. They aim to empower and assist VET stakeholders with current practices and policies.

As we reflect on the year and the generosity of the holiday season, we wanted to recount a touching experience from our marketing team's recent journey to the West Coast of Africa and highlight the impact of our collaboration. . While exploring Lome, Togo, our team encountered a moving story that resonated with us. Togo is a place where many face harsh realities, with 95% of the population living on just $1 a day. Despite these challenges, the overwhelming joy and resilience of the children at the local primary schools, which often host up to 2,500 students, left an indelible mark on us. One touching part of their story involves a small kiosk they found across from a school. They purchased all the books and pens from the kiosk and hurried back to distribute the supplies to the school. This gesture not only helped the kiosk owners and their families but also provided essential resources to the school. The overwhelming joy and gratitude exhibited by the children were truly heartwarming to witness. Feeling inspired by this heartfelt story, we're passing on the joy of giving. Our goal is to help these schools and give the kids a chance for a better future, all thanks to you. On your behalf, we have gifted: " 1,095 days of access to improved schools in Madagascar " Sending warm wishes to you and your loved ones for a wonderful holiday season and a prosperous 2025. Warm regards Shiv and the RTO team

Tips for Navigating the Festive Season at Work: Strategies from HR Leader Ben Watts  at Wattsnext Group . As we approach the festive season, a time full of excitement and potential workplace challenges, business leaders must adapt their strategies to maintain a productive, motivated, and safe team environment. What strategies can leaders implement to maintain productivity and morale as the festive season approaches? What are the most common leadership pitfalls during the festive season, and how can leaders avoid them? How can business leaders manage employee expectations around time off, flexible work, and business continuity during the festive period? What key risks should leaders be aware of when hosting festive season events like office Christmas parties, and how can they proactively manage them? This content is courtesy of  KnowledgeAccess , which delivers leadership accreditation in the workplace via Recognition of Prior Learning (RPL).

We are excited to reveal that RTO Accounts has established a strategic partnership with PeoplePartners . PeoplePartners partners with RTO business leaders to re-engineer their workforce and scale for profitability and efficiency by leveraging the best global talent. This collaboration is poised to alleviate RTO businesses' challenges, needs and constraints by providing new opportunities, structures, and solutions for business growth. As you may have seen at ITECA, Velg Training and Insources events, PeoplePartners frequently share their expertise and educates as ‘The Workforce Engineering Experts’. Workforce engineering includes reviewing entire organisational charts and identifying constraints where they can provide quality, dedicated, full-time offshore RTO professionals (not just VAs). This strategic partnership between RTO Accounts and PeoplePartners  represents a significant step forward in empowering RTOs to streamline their operations, reduce labour costs, and build a team of dedicated professionals (with the offshore staff complementing the onshore staff) committed to their organisation's success. To explore the potential of this strategic partnership and learn more about the transformative benefits it offers, we invite you to delve deeper into the possibilities that await. Discover how PeoplePartners  supports RTOs with scaling their businesses profitably and efficiently.

Don't let cashflow forecasting become an obstacle to your RTOs success. Watch this video to take the necessary proactive steps to ensure your finances stay top-notch. In this short video, I give you practical examples of: Cashflow predictions. Decision-making tools Risk assessment Strategies to adapt to changing economic landscapes

Wayne Schmidt interviewed Campbell Elton, a registered RTO from KnowledgeAccess, and me about how the 2020 budget impacts RTOs. We discuss: Budget Summary in relationship to RTOs, employers and employees. How does the JobMaker benefit an RTO? How do employers claim the JobMaker credits? What areas of study is the government targeting? Is there any benefit that employers can get for existing employees? Business areas of opportunity for an RTO. Benefits of the instant write-off measure. Finally, what are the opportunities in this budget? If you need advice, book a time with Shiv.

Christmas is only a few weeks away, and 2020 is ending. We all hope for a better 2021. Here are two quick updates for training providers. ASQA’s email response to a recent application for RTO registration informed that they are experiencing an unforeseen spike in initial registration applications. This indicates positive industry confidence and economic recovery. More businesses are seeking to enter the training market. If you are considering starting a new RTO or intending to change the scope of an existing registration, now is an excellent time to begin the application process. Next, the local recovery fund established under the federal budget’s Local Jobs Program is now accepting applications to release funds. There are 25 regions nationwide, and you can submit your project to your area if it meets the priorities of the local job plan. To access funding under this program, your project must focus on better skilling local job seekers, creating employment opportunities, and meeting local employer demands. You can apply via AusTender .