The year before the recession of 2007 saw the birth of as many as 558000 companies. But only about 414000 companies were formed in 2015 as per the Census Bureau, which was a little over the year before. Though the rate of unemployment is on the decline and the stock markets are up, the economy is still not expanding and so is the productivity and the wage rise. The economists believe it is due to the slump in start-ups which essentially means there is less creation of new businesses.
It is critical to understand the reason behind the slump, and it could be due to the power of the big corporations. The economists argue that these big corporations can kick out the challengers or acquire them before they can be a force to reckon. So if you are wondering why bother about the stifling entrepreneurship, experts say that this kind of slump has a lot of implications. The small companies and start-ups are the ones that offer dynamism to the economy. These companies can generate, create job, innovations and is a ladder for success to middle class and immigrants. The most significant contribution of startups is that it makes the economy more productive. They have the talent to invent new approaches, innovations, and products that challenge the big companies to compete or be ignored by the customers. Startups have created jobs and also promote entrepreneurship.
Though the slump is observed for more than 30 years, the recent trends are what have worried economists. In the 90’s the slowdown was only in specific sectors like the retail, and that was not a drag on the economy or productivity. But since 2000, the deceleration is noticed in the technology sector, and this is coupled with low productivity. Research conducted suggests that the entrepreneurship decline and reduction in business dynamism is a primary reason for stagnation in productivity.
Read Also : Printing a Newspaper
Britain voted to ditch the EU, and their currency fell by 13% of its value against the euro. That means the cost of Europe vacations for Britons will be higher than usual, so will be the foods like meat, cheese, wine, etc. which is exported from other parts of Europe. Not to mention gas which has become expensive.
The Britons have not taken the inflation lightly and have started to show more support to the Labour party in the parliamentary elections. The economy currently due to Brexit is weak, the prices are high, but the wages have not gone up. Mr. Stampton, who is a resident of London voted for a party which advocated for Brexit but is a traditional voter for Conservatives. The pound value has made him resort to check out the parks of South London instead of sun-kissed beaches in Greece for a yearly summer vacation.
The economy has not grown a great deal compared to the previous quarter last year. It has only seen a 2% growth in this quarter. Majority of the economic activity in Britain is made up of consumer spending, so when the ordinary people are in trouble, they spend less and hence becomes decisive for the economy. The average worker has to wade through the high prices of daily consumer goods coupled with no increase in wages. Some economists are expecting the country to fall into a recession as they expect the economy to grow by 1.5 to 1,7 percent annually over the next couple of years.
Research reveals that the credit card balances are 10% higher than compared to the same time last year. That according to the Bank Of England is the fastest growth in a decade, and this is a cause for concern. Consumers will soon exhaust all sources of money as the paychecks are deflated due to inflation. Borrowing is growing faster than real incomes, and that means the consumers will not be able to keep the economy going with the wages, not in pace with inflation.
Read Also : Moonlight Gets Oscars for The Best Picture
Colleges and Universities as part of the recruitment process send their representatives to other countries to meet and explain about the opportunities they offer to prospective students at education fairs. These events also give the students a chance to know more about the education system in general and also about the institutes they are interested in applying.
Students should be prepared by making a list of queries they want to be answered before coming to the Education or a college fair. They should take the help of family and friends to ask for inputs while creating that list. Below are a few questions students should consider checking out at the fair. This list can help students get started.
Academics: Students should fill in the subject of their choice while listing
● The opportunities that I will have if I major in (X)at your college.
● Difference between your program and the other similar programs offered in other colleges?
● Can I change my major?
● Can I take a break for a semester to come back home and resume my studies.?
● The total expenditure for each year to attend your college.
● Other fees and costs apart for tuition fee.
● Is there any scholarship for international students, if so what is it?
● Deadline for admission and scholarship
● Percentage of scholarship
● How many international students get financial aid and what is the average amount.?
● Examples of internships the students of your college have for majoring in (X)
● Can someone help me find an internship?
● Please explain how your program will help in achieving my career aspirations.
● What placement opportunities are available at your school for international students.?
● How will the VISA process be. ?
Students should seek out representatives from various college and universities and ask for an introduction if they are not familiar with it. A student should not be hesitant to say that I have not heard of you, please tell me more. The executives will be happy to tell you.
Read Also : Is The Education System At Risk Due To Cutbacks
England Schools are expected to save £3bn as per the National Association of Headteachers. That they say can be a significant threat to the education systems stability. Ministers say that the school funds are protected, but Russell Hobby who is the General Secretary of that association begs to differ. Though the Education Department said that the funding is at a high, the Institute of Fiscal studies is the belief that there is more than what meets the eye. There are cost pressures that are impacting the funding. As per the research that they have published recently, they need an extra £2bn between 2017 and 2022 to maintain the schools at the current level.
Reality check: The education department wants the school to make savings close to £1.7bn, so when the government claims that the funding is at a record high, it does not tell the complete story. The department does not account the impact on the per-student fund as well as other cost pressures as per the director of Education at IFS, Luke Sibieta.
The general secretary of the National Association of Headteachers spoke from the annual conference in Telford and said that there are many organizations that are facing this cost pressure and affecting the effective management of schools, but the government is still singing the same tune of schools getting high funding. The schools have to manage the additional expenses of Insurance and contributions to pension coupled with rising costs which is creating a lot of cash crunch. The association is continually highlighting the situation along with teacher unions about the financial issues schools are facing. The government meanwhile refuses to admit it, and hence the schools in the UK are at risk.
The National Audit has estimated that schools have to pay £3bn as payout between 2015 to 2020. With such numbers being projected, more than 70% of the schools said there would be a cash crunch in 2019 to 2020, and More than 18% said that they were already short of cash.
It was an awards ceremony that will be remembered for the wrong reasons. The climax of the ceremony was chaotic. The presenter mistakenly awarded the honor to La La Land which was later awarded to Moonlight as millions of viewers and Hollywood celebrities who were in that ceremony were stunned with this fiasco. Faye Dunaway who was giving away the award declared La La Land as the best movie at the end of the broadcast only to be corrected minutes later. By then the makers of La La Land were celebrating on stage, but it was short lived for them.
Moonlight, a drama which was a favorite among the critics was declared the actual winner by the producer of La La Land Jordan Horowitz amidst gasps from the audience present at the ceremony. A close up of the envelope showed that Dunaway and Warren Beatty had an old container of the previous award of Emma Stone who featured as the leading lady in La La Land. That prompted Beatty to hesitantly hand over the envelope to Dunaway who declared La La Land as the winner of the best movie.
The PWC that counted the votes for Oscars apologized and also held itself accountable for this mistake. The statement said that they would like to apologize to La La Land, Moonlight, Dunaway, Warren Beatty and the viewers for the goof up.