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To help day nurseries and their local councils with low occupancy, access to funding and financial sustainability, National Day Nurseries Association has launched an online system.
Nursery Calcul8 answers key questions childcare providers may have about the affordability of expanding their business and taking on more children, planning for the free two year old entitlement, revising fees, taking on more staff and increasing salaries.
The system also helps providers to quickly carry out detailed operational scenario planning, without needing any accounting knowledge.
It also assists with developing and management of budgets and forecasts to plan for the future.
Nursery Calcul8 enables councils to assess the financial sustainability of their local childcare sector. The system can help councils work with day nurseries to measure the impact of any emerging issues, external economic factors and to monitor the impact of grant funding.
NDNA director of finance and support services Anne Naylor said: “This exciting online system has been developed by nursery business specialists specifically for the childcare sector.
“It empowers providers to take control of their business, is quick, convenient and simple to use and makes business and investment decisions easy. We believe childcare providers and local authorities will quickly reap the benefits of using Nursery Calcul8 to plan for the long-term and ensure the sustainability of their settings.”
National Day Nurseries Association (NDNA)’s Nursery Calcul8 was developed in response to the NDNA insight report into the UK nursery sector 2012.
Results showed that the nursery sector is feeling the impact of the economic downturn which is reflected by dropping occupancy levels.
Over 76 per cent of nurseries reported making losses on three and four year old free early education places, with average losses per child per year of over £500.