Financial advice for new childcare businesses
Information and advice for those wishing to set up a business in childcare.
General business advice
It is essential to draw up a business plan including a budget and cash flow to help you assess whether or not your proposals for a business are sustainable.
You can use these templates to help you prepare a business plan
4Children have an online business health checker which is designed to support childcare providers in developing robust business strategies. This free resource aims to help improve business skills and promote the long term sustainability of business strategies within the early years and childcare sector. As a potential new childcare provider it may help you understand the business requirements of a childcare business.
Loans and grants
There are government-backed low interest start-up loans which may be available to help with setting up your business. This scheme works by assigning a delivery partner to you who will help you develop a business plan. The plan is then assessed and funding decided by the Start Up Loans Company.
New childcare businesses may be able to apply for a government business grant - these are subject to funding being available.
Free Early Education for 2, 3 and 4 year olds
It is important that you understand the statutory requirements concerning the early years funding so that you can make an informed choice whether or not you want to provide free early education places.
If you would like to offer the Early Years Free Early Education for 2, 3- and 4-year-olds (FEE) at your setting you will need to notify us in advance, you cannot offer the free places without first consulting with us.
You will be able to offer the FEE when
- your Ofsted registration is active;
- you have attended an FEE Information Session
- signed an FEE Agreement
- completed other documents.
FEE information sessions
Find out more and book a place on one of these sessions to help you understand how the funding process works.
The Bromley FEE Handbook provides information on how the funding should be delivered in your setting.