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Private Tutoring Market Size, Share, Forecasts Analysis, Company Profiles, Competitive Landscape and Key Regions 2028

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The global private tutoring market size is expected to reach USD 171.93 billion by 2028, exhibiting a CAGR of 8.3% during the forecast period. The private tutoring market size stood at USD 92.59 billion in 2020.

The Report Lists the Key Companies in the Market:

  • Chegg, Inc. (Santa Clara, U.S.)
  • Ambow Education Holding Ltd. (Beijing, China)
  • TAL Education Group (Beijing, China)
  • Mathnasium LLC (Los Angeles, U.S.)
  • Educomp Solutions Ltd. (Gurgaon, India)
  • Sylvan Learning, LLC (Baltimore, U.S.)
  • Daekyo Co., Ltd. (Seoul, South Korea)
  • Kumon Institute of Education Co., Ltd. (Tokyo, Japan)
  • Kaplan Inc. (New York, U.S.)
  • Action Tutoring (London, U.K.)

Market Driver:

Increasing Participants in Competitive Exams to Incite Growth

The increasing competition among students has resulted in high demand for private tutoring, which will boost the private tutoring market growth. The rising difficulty in level entrance exams by renowned schools or universities can create lucrative opportunities for this market. As per the Global Education Census Report 2018 published in November 2018 by Cambridge Assessment International Education, about 4 in 10 surveyed students (43%) had received private tuition outside the school worldwide, wherein in China, it accounted for more than 5 in 10 observed students (57%), followed by India (55%), and 1 in 10 students in the U.S. Furthermore, the increasing expectations of parents for high marks in academics from their children will accelerate the growth of the market. Besides, raising consciousness regarding learning in developing nations will simultaneously enable speedy expansion of the market.

Key Players Assessment in this Research:

  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in this private tutoring market
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

Research Report Aim & Scope:

  • An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
  • The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
  • The various parameters accelerating the growth of the market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the market during the forecast period.

Segments Covered:

By Subjects

  • Academic
  • Non-academic

Application

  • Up-to K-12
  • Post K-12

Mode

  • Offline
  • Online

Remote Teaching to Amplify Growth During Coronavirus

The temporary closure of education institutes due to the pandemic has adversely impacted the education industry. As per the article, ’The Impact of the Covid-19 Pandemic on Education Financing’, published in May 2020 by World Bank Group, the real growth in education spending per capita in all countries, as per downside forecast, was estimated to decline at a rate of -5.7% in 2020. However, the shift towards online education will consequently stabilize the private tutoring market revenue amid COVID-19. Besides, the growing popularity of online learning due to its convenience will boost the private tutoring market growth. 

Regional Analysis:

Surging Demand for Coaching Classes to Augment Growth in Asia Pacific

The market in Asia Pacific is expected to hold the largest private tutoring market share during the forecast period. The growth is attributed to coaching classes’ popularity primarily in China, Japan, South Korea, and Southeast Asian nations. In May 2020, the press release of Yonhap News Agency reported the results of an annual survey conducted by the National Statistics Korea and the Ministry of Gender Equality and Family. It was reported that, in 2019, about ¾th of the students received private tutoring in South Korea, wherein students spent, on an average, 6.5 hours/week for this tutoring. Also, the increasing middle-class population is likely to spur business opportunities for the private tutoring market in Asia Pacific.

Notable Development:

September 2019: Chegg, Inc., an American education technology company based in Santa Clara, California, announced that it has acquired Thinkful, an online learning platform offering professional courses in America.

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Business

Why do Businesses Need Human resource Consulting Services?

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Human resource

Human resource consulting firms play a vital role in today’s business landscape. They offer several key benefits and importance to organizations:

Expertise and Specialization:

HR consultants bring specialized knowledge and expertise to the table. They stay up-to-date with the latest HR trends, best practices, and legal regulations. This expertise is precious for businesses without dedicated HR staff or require support in complex HR areas.

Cost-Effective Solutions:

Engaging HR consultants can often be more cost-effective than hiring and maintaining an in-house HR department. Businesses can access high-quality HR services as needed, reducing fixed labor costs.

Customization:

HR consultants tailor their services to meet the specific needs of each client. Whether recruitment, employee training, or policy development, consultants design solutions that align with the organization’s unique goals and challenges.

Objective Perspective:

Consultants offer an objective and impartial perspective on HR matters. They can provide insights and recommendations without being influenced by internal biases or politics, which can be valuable for making difficult HR decisions.

Efficiency and Productivity:

HR consultants can streamline HR processes, making them more efficient. This can improve productivity, as employees spend less time on administrative tasks and more on strategic activities.

Compliance and Risk Management:

HR consultants help organizations comply with labor laws and regulations, reducing the risk of legal issues, fines, and reputational damage. They also assist in implementing best practices for risk management.

Strategic Focus:

Organizations can free up their internal resources by outsourcing HR tasks to consultants to focus on core business activities and strategic initiatives. This can lead to improved business performance and growth.

Scalability:

HR consulting firms can adapt to an organization’s changing needs. Whether a business is expanding, downsizing, or facing other transitions, consultants can provide flexible HR solutions to support these changes.

Access to Technology:

Many HR consulting firms have access to advanced HR technology and software solutions that may be cost-prohibitive for smaller organizations to implement independently. This technology can enhance HR processes and data management.

Talent Acquisition and Development:

HR consultants excel in talent acquisition and development. They can help organizations attract top talent, assess employee potential, and implement training and development programs to improve workforce skills.

Confidentiality:

HR consultants are bound by confidentiality agreements, ensuring that sensitive HR issues and employee data are handled with discretion and professionalism.

Conflict Resolution:

Consultants can mediate and assist in resolving workplace conflicts and issues, promoting a harmonious work environment.

Global Expertise:

 For businesses with international operations, HR consultants with global expertise can help navigate the complexities of international HR regulations and practices.

In summary, human resources consulting firms provide valuable support to organizations by offering expertise, cost-effective solutions, and a strategic approach to managing their workforce.

Their ability to adapt to changing needs, ensure compliance, and improve HR processes makes them an essential resource for businesses looking to thrive in today’s competitive environment.

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Business

PayPal quietly reintroduces $2,500 “misinformation” fine

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PayPal

Not long after issuing an apology and retracting a $2,500 fine to its users, PayPal has quietly re-introduced the fine into their terms of service and legal agreements.

If enforced, the leading payment processor could fine users the hefty $2,500 sum for spreading “misinformation,” or “hate”, or whatever they deem “unfit for publication.”

While the wording has been changed up, the company has listed several things they would consider fining users over, purely based on speech:

PayPal restricted and prohibited activities

  • The promotion of hate, violence, racial or other forms of intolerance that is discriminatory or the financial exploitation of a crime
  • Items that are considered obscene
  • Certain sexually oriented materials or services
  • Act in a manner that is defamatory, trade libelous, threatening or harassing
  • Provide false, inaccurate or misleading information

The original documents, which PayPal said were published in error, had much looser language on what would get users fined $2,500 over – namely the “sending, posting, or publication” of any “messages, content, or materials” that are “harmful, obscene, harassing, or objectionable.”

PayPal has seemingly taken a firm stance against adult / pornographic content in both policies, while the former prohibited things that “depict or appear to depict nudity, sexual or other intimate activities” the new policy vaguely prohibits “certain sexually oriented materials or services.”

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Finance

Employee Retention Tax Credit 2022

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The employee retention tax credit 2022 (ERC) is a tax credit available to employers who keep and retain their employees. The credit is available to employers with 100 or fewer full-time employees. It applies to qualifying wages paid to employees during the business’s first quarter.

If your business is a small business, you can use Form 941-X to claim the credit retroactively.

Employers with 100 or fewer full-time employees

Employers with 100 or fewer employees are eligible to claim a refundable payroll tax credit called the Employee Retention Tax Credit.

This credit was created by Congress under the CARES Act to encourage employers to retain employees. It was originally set to expire on January 1, 2022, but Congress has extended the credit twice. This means that eligible employers can still claim the credit for their taxes for 2020 and 2021.

The credit is limited to wages paid between March 12 and Sept. 30, 2021. In addition, wages paid under the Paycheck Protection Program (PPP) cannot qualify for the credit. The credit amount is limited to $5,000 per full-time employee in 2020. In 2021, it increases to $7,000 per quarter, with a total credit of up to $21,000 per employee.

Paycheck Protection Program loans are not eligible for the employee retention tax credit

The Employee Retention Credit (ERC) is a tax break for businesses that offer a payroll protection program for their employees. Until recently, employers could not qualify for both programs at the same time. But the new legislation has changed this and now businesses can take advantage of both programs.

To receive the credit, employers must file a Form 941-X, or Adjusted Employer’s Quarterly Federal Tax Return, for each quarter that an employee was a PPP borrower.

The credit is based on wages paid between March 13 and Dec. 31, 2020. For the third quarter of each year, the credit is available for up to $10,000 per employee.

Qualified wages are based on the quarter the business began

To qualify as a severely distressed employer, your business must have had a 90% decline in gross receipts in the previous year.

You must have employed at least one person during this time. The CARES Act does not apply to businesses that are still operating, but it does apply to those that have ceased operations and declined in gross receipts.

Form 941-X is used to retroactively file

The IRS has recently released a new form called Form 941-X. The new form is designed to be filed retroactively and corrects any mistakes that you may have made in filing your original Form 941.

The form must be filed no later than two years after you paid the tax. To file this form, you will need to mail it to the IRS. The IRS does not have the capability to accept it online. If you’ve made significant changes to your business, you may be eligible to claim the ERC. The ERC is equal to 6.4% of the wages you paid to employees during the credit generating period. This credit is not available to corporations with more than 500 employees

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