Early Childhood
The biggest challenge facing the childcare industry is the recent reduction in funding. This significantly impacts on Early Childhood Centres who have achieved 100 percent registered teachers or were working towards this goal.
Sound financial management is critical to your Centre’s success.
Your key considerations should be:
- Setting realistic budgets forecasting all expenses
- Reviewing wage costs and critical expenses
- Examining parent fees
- Determining other potential income streams
Any changes made must be sustainable for the future and practical for example – a fee increase may not currently be needed but can you determine when this will be necessary?
Community Centres that have built up significant cash reserves need to manage their fees and wages effectively to ensure long term success. The balance between 'quality service delivery' and affordability is even more finally balanced.
How will you best retain your 'point of difference' in an economy under stress with new competitors entering the market?
Get Markhams sound advice to stay ahead.
