Early Years and Childcare Business Support

Business Planning and financial management

Business planning is essential to any successful business. Producing a business plan does not have to be time consuming. Once it has been developed it can be used to manage the business effectively.

Business plans should be reviewed regularly to ensure the business is progressing as planned and monitoring any changes that may need to be made. It should be used alongside any improvement/Ofsted action plans and cover the following:

  • Overview of the business
  • Business aims and objectives
  • Premises and location
  • Market research
  • Equal opportunities
  • Analysis processes e.g. SWOT, Risk, PESTLE etc
  • Marketing plan
  • Services
  • Staffing
  • Financial planning and management
  • Action plan
  • Policy review

Further information on business plans, templates, Childcare Sufficiency Assessment and Warwickshire Insights can be found via the links and downloads on this page.

Providers may want to consider the Childcare Sufficiency Assessment and Warwickshire Insights tools and information when identifying gaps in the local market and reviewing their models of delivery.

Business sustainability and reviewing finances

Once you have created your business plan and cash flow forecast these should then be reviewed regularly. Businesses should consider reviewing the following:

  • Understand the local market
  • Understand and manage occupancy rates
  • Understand the costs
  • Monthly accounts
  • Cash flow forecasting
  • Clear and transparent charging policy/funded offer
  • Plan for the future
  • Has the expenditure gone up?
  • Have there been any changes to funding?
  • What has occupancy looked like across this past year?
  • How much does it cost per hour to deliver the service?
  • What does the breakeven look like this year compared to last year?
  • Is the fee structure right?
  • What does occupancy for September look like?