There should be consideration of both opportunities and threats for maximum marks in each case. Award up to 3 marks for each demographic consideration. Examples of possible issues are shown in the grid below:
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Demographic change
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Opportunities
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Threats
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a)
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Growing number of self-employed people
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Consultation, advisory and supply chain opportunities
Financial services providers are likely to benefit from patronage, e.g. banks and insurance firms
Franchising opportunities as more people wish to become their own boss
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Smaller pool of potential employees / recruits, i.e. labour shortages. This can therefore lead to higher wages being paid.
Possibly an increase in competition from those who have set up their own businesses
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b)
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Increasing number of single parent families
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Child-care and related products
Impact on workforce planning, e.g. workforce flexibility
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Labour immobility
Relatively low income earners (or lower disposable incomes)
Possible reduction in size of potential labour force
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c)
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Parents choosing to have fewer children and at a later stage in their lives
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Career development of female workers
More females opting for full time employment
Perhaps a greater labour supply in the short term
Higher disposable incomes
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Long term impacts on related industries, e.g. schools and manufacturers of toys
Smaller workforce in the future
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d)
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More people graduating with University degrees
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Increased potential pool of skilled and qualified workers
Increased productivity
Higher earners lead to greater spending in the economy
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Higher salaries as firms compete to attract the best workers
Reduced workforce as more people enter higher education (postponed entry to the workforce)
Possibly higher staff turnover as skilled employees tend to be more mobile / headhunted
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