How well do you know your childcare business?
How sustainable is it?
How healthy is it?
Do you know its legal structure?
Do you have personal liability?
What are your responsibilities with regard to Ofsted?
What are your employer/employee responsibilities?
Do you know your legal responsibilities with regard to:
- Companies House
- Charity Commission
- Data Protection and
- Safeguarding children?
Tools to support your childcare business
SWOT analysis is a simple but useful framework for analysing your organisation's strengths and weaknesses, and the opportunities and threats that you face. It helps you focus on your strengths, minimise threats and take the greatest possible advantage of opportunities available to you.
Cash flow forecasting is a key aspect of financial management of a business, planning its future cash requirements to avoid a crisis. Identify potential shortfalls in cash balances in advance - think of the cash flow forecast as an "early warning system". This is, by far, the most important reason for a cash flow forecast.
Business health check measures how your business is performing and helps you determine where you need to focus your resources to achieve the most impact
staffing and management issues that are restricting growth specific areas, action plans and sources of support for business improvement
Business plan is a formal statement of business goals, reasons they are attainable and plans for reaching them. It may also contain background information about the organisation or team attempting to reach those goals.
Legal structure is the legal definition of your childcare business, e.g.,
Charitable Incorporated Organisation (CIO)
Company Limited by Guarantee (CLG)
Community Interest Company (CIC)
School-run (Sec 27, charitable aims)
Public Limited Company (PLC)
Understanding your legal structure and the roles and responsibilities of the management board is essential for future sustainability and to limit personal liability.
Organisation structure is a system used to define a hierarchy within an organisation. It identifies each job, its function and where it reports to within the organisation.
Alison Morris - Lead Early Years Governance and Business Adviser
Tel: 01223 507119