Early Years / Child Care Business Promotional Magazine


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Early Years / Child Care Business Promotional Magazine

  2. 2. I’m pleased to welcome you to our first issue of Early Years Business Magazine (EYB). We are a FREE online magazine that covers an array of topics in leadership and business. EYB provide stories, news and resources for students, graduates, providers and professionals within the sector. We’ve kept our content quite simple for lunch-time reading to spark off new ideas or enhance existing aspects of your business that could do with some love and care. So if you fancy a little read about starting up in the Early Years sector, team development or even closing your business, this is the place to be. It’s in- teresting because we have used the term business throughout our magazine and only because we must remember that in order to achieve a best start for children the welfare of resources are just as important to achieve that balance. It’s great to say that the readership can be accessed all across the UK and we even have global links. We want this magazine to reach across the world, share the positive aspects of how our inspirational Early Years leaders work tirelessly behind the scenes to achieve excellence and quality all around. In this issue, first and foremost, we’d like to say a big thank you to our con- tributors for their dedicated time. In this issue, we have Courteney Donaldson MRICs at Christies and Co writing about investment in childcare – it’s worth a read, Chris Reid at Connect Software who is very passionate about Early Years digital communications, and industry view on parent communication and Susan McGhee at BNG Training who we are really pleased to help guide us with a family-run business of spectrum of nurseries and a training organisation, shares her views on training and evaluation. We have some offers on our website that you are welcomed to access such as advertising, product reviews, recruitment pages and events advertising. I look forward to connecting to each one of our readers via Twitter, LinkedIn – Early Years Leaders or by email. EDITOR editor’sletterChris Reid is the CEO of Connect Childcare Connect Childcare is a specialist in the provision of technology solutions to the UK childcare sector. Connect Childcare’s management software is an industry leading system designed to take the headache out of all aspects of nursery administration. E: chris@theconnectgroup.net www.connectchildcare.co.uk Twitter: @Connect_Group Courteney Donaldson MRICs Chartered Surveyor & Head of Child Centric Sectors, UK & Europe, at Chris- tie + Co Courteney provides RICS valuations, consultancy advice, and also facilitate transactions and has specialised in the nursery sector since 1999, in one capacity or another. Courteney has been involved in every major nursery transaction since 2006 and regularly provide advice to many of the Top 10 UK corporate nursery groups. E: courteney.donaldson@christie.com http://www.christiecorporate.com Twitter: courteneyccs Susan McGhee at BNG Training Commercial Director Susan McGhee is responsible for busi- ness development at Bertram Nursery Group, one of only nine Scottish com- panies to make the Investec Hot 100 fastest growing UK businesses. E: susan.mcghee1@btinternet.com www.bertramnurserygroup.com Twitter: SusanMcGhee123 EYB Disclaimer The content of Early Years Business Maga- zine is for general information only and does not constitute any form of advice or recommendation upon which a specific de- cision should be made. Early Years Business Magazine has done its best to ensure the accuracy and currency of the materials con- tained on its website but excludes any war- ranty express or implied as to quality, accu- racy, timeliness, completeness or fitness for a particular purpose of the material contained this website. Early Years Business Magazine will not be liable for any claims, penalties, loss, damages or expenses arising from the use or the inability to use the magazine or from any unauthorised access or alteration to the magazine [by a third party]. contributors Vanessa 02• EYB
  3. 3. Features Buying a Day Nursery Get Fit for 2013 Funding Parent Communications The Training Revaluation Seven Positive Aspects of Coaching Regulars On the EYB Streets Just Saying Reviews contents EYB EDITORIAL TEAM Vanessa Cariba Editor vanessa@eybmag.com Sharon Brown Assistant Editor team@eybmag.com Jon Matthews Art Director team@eybmag.com Lourna Robinson Early Years Specialist Correspondent team@eybmag.com Devron C. Business Specialist Correspondent team@eybmag.com CONTRIBUTORS Jada Brookes • Courteney Donaldson MRICS • Susan McGhee • Chris Reid ADVERTISING & SALES media@eybmag.com SPECIAL THANKS AND SUPPORT TO: Lee & Shona O’Neill at Little Bears Nursery, Wansted Colin Adams MBE Nadia Ollivierre at Early Years Centre, Canada
  4. 4. L ike many other parents in the UK, I am a bit like one of those Stretch Armstrong toys of the 80s and 90s; you know, the one which is pulled, twisted and stretched to its very limits, and then slowly returns to its normal state before the process starts again. Every day when dropping my son off at nursery, I empathise with fellow parents, obviously late for work, hauling their children out of the car followed by changing bags, lunch bags, hats and coats. At the end of the day we each return to collect our child, along with said changing bag, lunch bag, hat and coat as well as a slip of paper telling us when he/she ate, slept and had a nappy change, plus a monthly newslet- ter and mental note to remember the note on the door about fancy dress day a week on Tuesday. Now, admittedly, I’m not the best with bits of paper and would have forgotten which date fancy dress day is on as soon as I am back in the car. If this sounds all too familiar, imagine then instead, the nirvana of having a daily parent update send direct to your smartphone, from which you have access to a daily report emailed at the same time every evening, branded with updates on the nursery and your children. I’m pretty unique in that I’m both a parent of two young children and the owner of a company delivering tech- nology to nurseries. As a father, I know how best to communicate with parents and what technology (current or future) could facilitate this. Only a few years ago smartphones and tablets had very little influence on my company’s activities, yet today, they are very much determining how my busi- ness operates now and in the future. This is the world we live in now. Imagine too the benefits of which the same technology will have for the nurs- eries involved. Let’s consider how much time is actually spent creating these daily reports. Say each report takes five min- utes, assuming there are 40 children in the nursery; that equates to: 200 minutes a day 16 ½ hours per week 70 hours per month 830 hours per year or 0.5 of a post At an average wage of £6.50 per hour, that’s a startling £5,395 per year for something that will invariably end up at the bottom of a nappy bag. So, if we could make real savings by applying the new technology to some- thing as small as daily reports, what would the savings be for the big stuff like our learning journeys? If it goes anywhere close then it has to be worth considering. Only a few years ago smartphones and tablets had very little influence on my company’s activities, yet today, they are very much determining how my business operates now and in the future. This is the world we live in now “ “ EYBTECHNOLOGY THE FUTURE OF PARENT COMMUNICATION?CHILDCARE TECHNOLOGY SPECIALIST CHRIS REID CON- SIDERS THE IMPACT THAT NEW TECHNOLOGY COULD HAVE ON NURSERIES WHEN TRANSFORMING INFOR- MATION TO PARENTS. 04• EYB
  5. 5. T raining, development, and up-skilling - whatever we call it, we all agreed that professional development activity is vital to enhancing quality standards in the Early Years sector. It is the key to ensuring that our children are cared for by skilled professionals who understand their individ- ual needs and are able to meet them in fun and innovative ways. We know there is a need for training, a fact corroborated by last summer’s Nutbrown report which concluded that qualifica- tions are the keys to high-quality Early Years education. How- ever, in these days of economic constraint we are faced with dramatically reduced budgets and spending cuts, meaning that local authorities have, in many cases, reduced or even ceased to offer training to childcare practitioners. How then do we find and fund our training, how do we dem- onstrate the return on investment and how does the investment we make improve the outcomes for the children in our care? These are all important questions to ask and the very fact that we are asking them is the first step to ensuring that we continue to training REVOLUTION TheTHE NUTBROWN REVIEW HIGHLIGHTS ISSUES OF STAFF QUALIFICATIONS IN EARLY YEARS. SUSAN MCGHEE DISCUSSES THE NEED TO GET AHEAD IN TRAINING. meet the professional development needs of our workforce. It’s a step towards reflec- tion and consideration, a step that helps us identify specific training needs and step by step approaches to reach our goals. So first things first…carry out a skills gap analysis; this will identify the strengths and areas for development across your team. Link this to individual or group support and challenge sessions leading to clear goals for each practitioner. Next you need to source the training to match your needs: remember you have lots of skills in your team already so utilise these, cascade the knowledge, allocate men- tors and set up research working parties. Ensure you get the best deal from profes- sional training companies by asking for EYBLEADERS EYB • 05
  6. 6. multi-session discounts, using free online re- sources and working smartly. Could the trainer present the session by video tutorial that your staff can access at a time to suit them? Consider collabora- tive working with other local providers, split the cost but double the benefit. Everyone’s a winner! Finally you need to measure the impact of the training you have provided. Has it really improved things for the children in your care? I’ve seen some wonderful examples of training unlock- ing something magical that allows a connection between staff and children and takes early learning to new heights. Unfortunately I’ve also seen examples of training that have no significant impact on daily practice. So what should you do to ensure your training hits the spot? In my experi- ence the best way to ensure you achieve your goal is to have clear, specific and measurable success criteria, identify the steps needed to reach these criteria and set a timescale. Ask your team to complete pre-training expectation questionnaires, ask them at the midway point if you are on track in meeting their expectations, then at the end of the session ask if you have met their expectations. Before your team leave the training, seek a promise from them - ask them to write down the one thing they will do differ- ently as a result of this session. Then at their next supervision meeting revisit this and find out whether they have stuck to their promise and what impact it has had. Keep these records and promises in your staff CPD files and you will see a progression, you will see individual success stories that together make your Early Years setting and ultimately the broader sector a triumph for training. training REVOLUTION The EYBLEADERS 06• EYB
  7. 7. Resources,Advice,InspirationandMoreat CHILDCAREEXPO2013Following a successful event in 2012, Childcare Expo will re- turn to the Ricoh Arena in Coventry for the fourth time this September. The Event for the Early Years, Childcare and Nurs- ery Sector, promises to be a networking hub for practitioners and will be packed with information and advice to help them to stay up to date. The show will feature an array of exhibition stands packed with resources, information and play equipment tailored specifically to the Early Years sector. A number of current exhibitors have already signed up to showcase their products at Childcare Expo 2013. Held on Friday 27th – Saturday 28th September, the event will also host a line-up of work- shops, seminars and a variety of other feature areas. The ever popular Play on a Budget Workshops will also return; giving practitioners new and exciting ways of making their bud- gets stretch further. “Childcare Expo 2013 will continue to provide childcare professionals with inspiration for the year ahead. The 2013 features programme will be tailored to specifically meet the needs of all members of the early years community and we hope to once again attract high calibre speakers to our popular seminar programme. We will be discussing with a variety of settings how we can make the event even more relevant and how we can best support them in continuing to provide high quality childcare.” Comments Show Director, Emma Bar- rett. Entrance to Childcare Expo 2013 will be free and registration will open in early May. Vis- it the website at www.childcareexpo.co.uk for the latest news and show updates. EYB • 07
  8. 8. EYBBUSINESSREVIEWS Are you aspiring to acquire a chil- dren’s day nursery business in 2013? A s we enter a new year, we often think about our personal aims and objec- tives for the forthcoming months. Many will consider a change of career direction that could empower them to take control of their own des- tiny. Acquiring your own business could facilitate that ambition. It may be a bit of a cliché, but for your business to succeed, you’ll need to have a genuine passion for what you’re do- ing. Successful business owners never underestimate the amount of work they’ll need to put in and the potential impact on their family and friends. It’s not enough to be acquiring, or starting your own business, because you were fed up with working for someone else or because you were tempted by the idea of a millionaire lifestyle, albeit rare in childcare. You won’t get there un- less you have the deep enthusiasm and drive necessary to succeed. Before you purchase a business, it is essential to take the time to make sure that owning your own business is the right move for you. Know Yourself Buying your own business is an exciting and satisfying project that should allow you to organise your working life as you want. In return for your hard work, com- mitment and energy, you’ll be in charge of your own future. You may have oth- ers to consider in your decision-making process such as family, partners, friends and colleagues. However, as the owner and manager of your own business, the Are you aspiring to acquire a children’s day nursery business in 2013? COURTENEY DONALDSON MRICS, CORPORATE DIRECTOR AT CHRISTIE + CO GIVES PROFESSIONAL ADVICE ON STARTING YOUR OWN CHILDREN’S DAY NURSERY BUSINESS. BuyingaDayNursery decisions are ultimately yours and yours alone. Before committing yourself to buy- ing a nursery business, you’ll need to be clear about your priorities, wants, needs, hopes and plans not just throughout 2013, but over the next few years and in the longer term. This will require you to be honest, unblinking and self-critical, because one of the greatest assets in your business is you. This step isn’t easy, but having taken it, you’ll emerge stron- ger and more self-aware. The qualities that will help you to succeed in a business are your own entrepreneurial skills: optimism, energy, self-confidence, ambition, integrity, pas- sion about results and attention to detail. And, if luck is a quality, you’ll need that too. It takes more than one single talent to run a successful childcare business. You should ask yourself the following questions: • Are you self-disciplined and do you get things done? • Do you have support from your fam- ily and/or partner? 08• EYB
  9. 9. vital part of securing the funding you’ll need to buy the business you want. A good CV should be no more than two pages long. Start with your most re- cent employment and work back in time. List the jobs you’ve done and summarise the key tasks and responsibilities these entailed; include any training courses or skills acquired and any notable achieve- ments. On another piece of paper, make a note of any skills you feel you should ac- • Can you work hard, sometimes seven days a week? • Can you get along with people? • Can you manage under stress? • Do you persevere? • Can you learn from mistakes? • Can you take advice? • Can you take a long term view? • Are you in good health? • Do you have definite aims? • Do you fully appreciate the responsi- bilities and understand the risks? Preparing your CV These days we can rely on having three to six changes in career direction during our working life. To move confidently from one field to another you must be clear about the skills you have and how skills – those skills that derive from one area of experience and can be applied to another. These are attributes that are distinct from aspects of your character: determined, works well under pressure, pays attention to detail, intuitive, persis- tent and so on. Transferable skills are those skills that have helped you – and perhaps your employer – achieve, win business, improve the workplace, in- crease profits and so on. What are the skills that enable you to do those things? How to find the right nursery business Having gained confidence that own- ing a business is right for you, it’s time to determine what attributes you’ll need in the nursery business that you wish to acquire. At any one time in the UK there will be a wide selection of day nurseries for sale. For many nursery owners the decision to sell their business can be a very difficult one. They will wish to keep the sale highly confidential, in order to mitigate any risks associated to the potential departure of staff and/or parents, uncertain as to what the im- plications of a sale may mean to them as em- ployees or service us- ers. It is there- f o r e e s s e n - tial that, rather than ‘trawling’ the web for possible nursery acquisition opportunities, you speak directly to agents that specialise in the sale of nursery businesses and ad- vise them of your specific requirements. These agents can then determine which available opportunities may be suited to you and they may ask you to sign a they might be freshly applied, enhanced or extended. The most useful exercise you can do at this stage is to write down all the skills and experience you have in the form of a Curriculum Vitae (CV). A CV is vital, not only because it helps you think about yourself clearly, but be- cause it will show others – lenders in particular – that you have the right skills for the business you plan to buy. Since the economic downturn, banks’ desire to mitigate risk has increased therefore sector experience is essential and a comprehensive CV will assist in demon- strating this. Presenting both yourself and your business acquisition inten- tions and ideas in the best possible way to potential lenders is a “The qualities that will help you to succeed in a business are your own entrepreneurial skills” quire b e f o r e buying your own business, and any skills you would need to buy in. You should also compile a list of what professional re- cruiters call your transferable EYBBUSINESSREVIEWS EYB • 09
  10. 10. 10• EYB
  11. 11. non-disclosure agreement (NDA) prior to any confidential information, such as sensitive trading information, being released to you. When contacting agents you need to have deter- mined your require- ments: • What is your acquisition price range? • What are your geographical re- quirements? • Do you seek a freehold or lease- hold nursery busi- ness? • Are you looking to ac- quire a business operated un- der management, or one which you will manage and run yourself? • What size of registered capacity do you desire? The agents’ role when acting for the vendor (business owner) is to intro- duce suitably vetted, serious prospective purchasers that have the pre-requisite childcare experience and financial ability to successfully conclude a transaction. While your CV will assist you when seek- ing bank funds, it will also assist at this stage, by demonstrating the credibility of your skills, qualifications and experi- ence. For many vendors, while price is important, so is their confidence in the buyer. Many vendors need to feel confi- dent that under the prospective buyer’s ownership, the business, children and staff would continue to thrive. The agents’ primary objective is to achieve the best possible price for their client, often the vendor, and then subse- quently nurture the transaction through to completion. Most nursery acquisitions will be subject to financial and property due diligence, particularly if a bank or lender are to provide acquisition funds. The length of time, between a ‘deal’ being agreed and the transaction com- pleting should not be underestimated. Often, the sale or acquisition will take be- tween four to six months, from the deal being agreed to completion, depending on whether the transaction is an asset sale or share sale. EYBBUSINESSREVIEWS EYB • 11
  12. 12. Finance Fundamentals As noted above, the first consideration when seeking to buy a business is how much you can afford, and to a large de- gree this will be determined by the size of your cash deposit: the days of acquir- ing a nursery business with a 100% busi- ness mortgage are long gone. Decide whether you want or need to borrow money. You may have an invest- ment, inheritance, pension lump sum or redundancy lump sum that will allow you to buy a business outright. Or you may want to invest some of your assets in a business and use the business to fi- nance the borrowing costs – if so; you should be clear about how you’re going to fund this. Many institutions can offer the mon- ey you may need to buy your business. Where you go will depend on how much you want to borrow and how much it’ll cost to borrow, the length of the loan, the state of the business and the record you have as a borrower. Also, some banks specialise in particular mar- kets and are keen to lend to aspiring pur- chasers in those markets. As a business buyer, you can finance your purchase by borrowing money from a lender or by selling a share in your business to a partner. These are called debt funding and equity funding respectively. Debt funding is quicker to set up, keeps you in control of the business, and leaves you in possession of the business when you sell. Equity funding involves a partner whom you must pay out of profits – it requires you to share control of the busi- ness, and means you’ll split the proceeds from the sale of the business when you sell it. Finding an equity partner can take a long time. You can borrow money from family, friends and banks; or through general mort- gage brokers, business mortgage brokers, venture capital firms and business angels. The simplest of these money resources is a lender who under- stands the business and has a professional sense of what you’re trying to achieve. How much you can borrow depends on so many personal variables that it’s impossible to give general advice. There are, however, three important fac- tors that all lenders consider: • How much of your own capital are you putting towards the purchase price of the business? • What skills, experience and ideas are you bringing to the business? • What level of debt can the business itself sustain? For freehold nurseries, whereby you will be acquiring the freehold property and the in-situ nursery business, banks may consider a loan on the basis of 60 -70% loan to value (LTV), depending on the ex- perience and track record of the buyer. Thus, if a purchase price of £1,000,000 were agreed, the buyer would need a ‘cash’ deposit of between £300,000 to £400,000, plus acquisition costs, such as solicitors and surveyors fees. Speaking to a financial broker that specialises in securing loans for nursery business acquisitions at the outset of your investigations will be a great advantage and will ensure that your aspirations on the funding front are likely to be realised. Given the size of ‘cash’ deposits re- quired for freehold acquisitions, many new entrants to the sector will seek in the first instance to buy a leasehold busi- ness, as the cost of entry is often sub- stantially lower than the extent of costs associated with freehold acquisitions. However, while leasehold nurseries will often have a lower capital value, the LTV as assessed by the bank, is likely to be closer to 50% or less, depending on the term of years remaining on the lease and other salient lease terms, such as provi- sions for a landlords ‘break clause’. Next Steps If owning a nursery business is for you, start the ball rolling in 2013 to achieve your ambitions: + Review your finances and seek advice from a finance broker. + Determine your nursery business ac- quisition requirements. + Contact specialists agents to ensure you receive details of businesses meet your specific requirements. Our next article will highlight matters that buyers should look for when meet- ing with vendors and visiting nurseries and the importance of financial informa- tion in formulating an offer. EYBBUSINESSREVIEWS 12• EYB
  13. 13. W hen I first started thinking about opening my own childcare setting, it was because I had been disappointed with the nurseries in my area. I’d spent hours looking at nurseries and none of them ticked all the boxes. In fact most of them didn’t even have a box to tick! I knew I could do better. Armed with that belief and a list of values, expectations and visions as long as my arm, I started planning my venture. After about two years of drawing up plans and models of my perfect childcare business, I finally got myself into a position where I could embark on my dream. I spent months and months searching for premises in London, but I either couldn’t afford the rent or the premises weren’t suitable. Before giving up and deciding to spend the money on a trip to Barbados and a Maserati, I settled for buying an already established setting outside London, believing I would soon turn it into a place I would send my children to. Although it looked like a sound business move, I couldn’t have been more wrong. From day one I struggled to cope – both financially and emotionally, for a variety of reasons. I looked to the local authority for help, and I had been jumping through hoops with the vain hope that they were going to help save my nursery. I was so incredibly wrong. I had severe staff problems and within 18 months of having em- barked on my dream venture, it had all gone to pot. I spent months, even years, reproaching myself for my failure and paying off my debts. I felt that I had let a lot of people down. It’s only now that I realise that although I made mistakes, I didn’t actually deserve to be in the position I was, and that I should learn from the experience and use it to make me a stronger and wiser person. Now a few years further on, we are in the middle of a recession and small businesses are struggling to survive. Everywhere I turn, private nurseries are cutting back on staff, which is impacting on standards, and ultimately leading to setting clo- sures. Even public sector settings are having a hard time and the impact on schools is tremendous. So what do you do when you can’t carry on opening? When you get to the point where you have to close, and you haven’t got a clue what to do next? Here are seven key points I considered as essential to share: final closure... WITH THE UNCER- TAINTIES IN THE ECONOMIC CLIMATE, NOT ALL CHILDCARE CARE BUSINESSES SHALL SURVIVE. LISA SPENCER TELLS EYB ABOUT HER EXPERI- ENCE WITH WINDING DOWN HER BUSINESS AFTER MAKING HER DECISION TO CLOSE THE BUSINESS DOWN. EYBREALLIFE 14• EYB
  14. 14. Notify OFSTED Firstly, notify OFSTED. You will be pay- ing a yearly fee and if you don’t notify them that you are closing, you will still be charged, and they will chase you for the money. Also ensure you notify the Local Authority Childcare Service, Inland Rev- enue, landlords, creditors, suppliers etc. – basically anyone you owe money to or have dealings with. Speak to staff and parents Speak to staff and parents as soon as you possibly can, giving them plenty of notice so that they can make alternative arrangements. You’ll be surprised at the level of support they can offer – but also be prepared for some fallout. Also try and give parents details of alternative settings. ACAS a great resource Speak to ACAS about any staffing issues. Make sure you are aware of what your obligations are as an employer and re- assure staff that you will give them ref- erences. Again, be prepared for some confrontation and fallout as they face unemployment. Sell assets and stock Make provision to sell your assets/stock. You will obviously need to pay any credi- tors, but any stock you have that is in good condition will go very quickly as nurseries are always looking for a bar- gain. We are in a recession after all!! Legal Advice Seek legal advice if you need it. When I closed my business, a member of staff took me to an industrial tribunal. It was a pointless exercise and they lost, but it’s not a nice experience and you need to know where you stand legally. Friends and Family Don’t lose hope. It’s an experience that will leave you feeling drained and at times lost; however you can move on and you will survive. Make sure you turn to friends and family for support as they will help you get through it. And remem- ber: you’re not a failure as you had the courage to try and follow your dream. A new Me Learn from the experience. I have taken the experience and while I wouldn’t say I’ve embraced it, I have let it contribute to moulding me into the person I am now. I have gained so many important skills and knowledge that I am very, very employ- able. “It’s only now that I realise that although I made mis- takes, I didn’t actually de- serve to be in the position I was, and that I should learn from the experience and use it to make me a stronger and wiser person.” EYBREALLIFE EYB • 15
  16. 16. I ntroducing coaching into your setting is a positive step to accept change.  Now as man- agers, I already hear you saying, “no time for that”.  However and there is a however, there comes a time when the same results are ineffective and you need to per- form better for the benefit of all. You may know about ‘the Haw- thorne effect in the 1920s’ where Elton Mayo proved that when workers were exposed to light their productivity would rise. Similarly when we expose ourselves to new perspectives it becomes easier for us to learn, resulting in new changes within the way in which we lead. A manager has so many respon- sibilities within their setting such as: • Keeping up-to-date with regulations • Maintaining quality • Record keeping • Communicating with parents • Communications with outside agencies • Business administration Unearthing some of the day-to -day issues for managers can sound overwhelming as they have so much to think about. One provider I spoke to this week agreed with this point and said that “sometimes it does get over- whelming when there is so much to do.” So here are 7 positive reasons to use a Leadership Coach: 1. Skills Building:  Use a coach to help identify skills required be- fore and after training to ensure that everything you have learnt is put into action. 2. Solution Focus: Look for so- lutions with a coach by exploring issues from another perspective and resolutions by opening ideas through unexplored questions. 3. Career Building:  Map out personal development and the next steps of your career path. Use a coach to help you identify your strengths and build on them in order to fulfil your job. 4. Goals:  Use a coach to plan goals and steps required to get there. 5. Motivation: Build up your con- fidence through trusted coaching and get back in touch with all the great aspects of your leadership qualities. 6. Brainstorming:  An idea is an idea until you mastermind it. Ask a coach to help you look at it from other angles to really ex- plore whether the idea is worth pursuing. 7.  Conflict Management: A coach will help you become clearer on how best to handle your staff and quickly identify conflict with resolutions. Understanding is the first step to acceptance, and only with acceptance can there be recovery. -J.K. Rowling GOLDEN COACH TIP Become accountable for your time Did you accomplish your goals for this month? How did you measure the results? EDITOR’S TIPS EYB • 17
  17. 17. The leadership and business magazine for early years training revolution BuyingaDayNursery SevenPositive Aspects of Coaching promoTionalcopy EYB magazine is an alternative media publication for Early Years professionals offering exclusive and original quality content created by a fully integrated editorial team with time-tested authority & perspective. With an audience of 107,900 childcare and early years pro- viders in England (DfE 2011 survey), EYB is accessible from any internet-enabled device providing the best possible communication medium to readers. So here is why you should advertise with EYB magazine. 1. ONLINE: Digital advertising through EYB on- line platform will showcase early years and busi- ness related services and products to a wide audience. Access a copy of EYB through smartphones, tablets and computers. Our client metrics reports and research will help you best understand the value of advertising with EYB. 2. EXPOSURE: EYB is a FREE magazine to readers with intelligent content and no pre- commitment thus increasing the opportunity of a wide exposure to the Early Years market. Our social media community is already talking about EYB which makes a great advertising platform for all new and existing businesses. 3. VALUE:We can afford to offer very competitive rates to our partners as we are an online publication. With print costs eliminated it leaves us free to share great advertising and editorial packages with the EarlyYears community and with no added VAT charges. Advertisewithus GET YOUR COPY NOW! Tel: 0844 288 9512 www.eybmag.com media@eybmag.com FREE ONLINE SUBSCRIPTION Business Enterprise – everything you need to know about starting, running, growing & exiting your business.
  18. 18. Applying for funding can often raise your blood pressure yet it is a part of running an Early Years business. Our funding expert, Devron Cariba, discusses the ‘Get Fit 4 Funding’ plan to ensure a smooth run up to securing funding. EYBGROWTH MENTAL ATTITUDE F unding need not be a daunting process and if approached with the right attitude the rewards can be immense. Rather than focus on the number of pages to be completed or the financial breakdown, focus on the outcome of receiving the funding. After all, your Early Years business deserves it, right? The answer has to be yes otherwise the funding would not be in place for you to apply. If you can focus your mind and your team on the benefits of receiving the funding – such as the children enjoying their new outdoor play area or the parents’ assurance that their children are interacting with new books, games and toys – applying for funding becomes a much smaller hurdle. As they say in sport ‘mental attitude is everything’. The same applies to securing funding. THE 3 PS Plan your funding cycles well so that they become part of your annual goal settings. Set out clearly what it is that you want to achieve during your year of business; select which goals will require additional funding and which you can fund yourself; then make a decision to apply for funding. Conducting this simple process will clarify your funding targets for the year. Prepare your business early for the run up to applying for funding. This means making sure your policies are up to date, your financial records are fine tuned and your funding model is realistic. Assess whether funding is available to meet your needs and the timescales and criteria required to be successful. Your team should also be aware of any funding applied for as this gives them the opportunity to contribute to the application and also feel a part of the success. Position yourself with key people within the funding organisation and begin to build relationships early. There is a gentle balance required here as running an Early Years business and networking can be challenging but the more you put in the more you will get out. Early engagement with funding officials and administrators can mean the world of difference if you are up to date on funding cycles, timescales, requirements and key people. Remember the early bird always catches the worm. SEEK OUT A COACH As Early Years professionals your job is to focus on the needs of the children so filling in funding applications may not be at the top of your list. You may not have seen a funding application let alone a completed one. In which case find yourself someone who has the experience and skills required to coach you in this area. Some people may offer to write your application but this strays from the empowering achievement of submitting your own application. Taking the time to learn from knowledgeable people in this area can be very rewarding and if your application is successful, the benefits can be realised within your business and your children. Good examples of ‘coaches’ may include Early Years local government officials, independent funding advisors or successful Early Years providers. A good beginning makes a good end. GO FOR GOLD It’s time to limber up and stretch your fingers as you prepare to package your application for approval. Running spell checks and grammar checks is as necessary as tying your shoelaces – you just don’t forget. Besides, who would want to go through all that hard work to only trip at the first hurdle? Your application could be amongst 10, 50, 1 0 0 applications so funding panels won’t be precious. A l s o , ensure your application is c o m p l e t e and any supporting documents are also submitted as its best to give panels a full picture of your business. And finally, have a contingency plan. Don’t leave all your eggs in one basket,seek out for other funding opportunities and stay in the loop. It’s your business to keep up with funders so stay in the game. EYB • 19
  19. 19. N DNA Business Report reveals that Early Years settings are losing an average £547 each year for every child they care for under the government’s free enti- tlement scheme. The survey carried out by the National Day Nurseries Asso- ciation (NDNA) found that out of more than 900 early education settings, 84 per cent of those have reported that the hourly government rate for places funded under the free entitlement does not cover the costs of care for each child. In November 2012, the average occupancy rate at nurseries was 71% as identified by providers in the 2012 DfE Childcare Providers Finances Survey. However, NDNA’s sur- vey reveals that a significant number of nurseries are operating below this level. One of the main causes are parents reducing their outlay on formal childcare and looking to the support of family and friends to restrict their childcare hours to free nursery education hours. As a result of this, sixty-seven per cent of nurseries have reported that parents are using more friends and family childcare, 80% of nurseries said they have more part-time children on their books and 52% said more parents are using funded hours only. Sustainability of Early Years businesses continues to be challenged with the number of redundancies increased from 7% in May 2012 to 10% in the last six months. The percentage of nurseries reducing staff hours over the last six months has increased to 43%, compared to 32% in May 2012. Reasons given for this have included childcare providers being unable to afford paying qualified (EYPS) staff the high wage, having to reduce hours and employed students instead, and unable to replace staff that has left due to occupancy levels dropping. Purnima Tanuku OBE, National Day Nurseries Association Chief Executive said: “Over 80% of the UK’s nurseries are in the private or voluntary sector, so the government and local authorities must realise that unless the sector is offered the right support it will not be able to deliver government ambitions to support working families and offer disadvantaged two-year-olds high quality free early education places.” In view of this, NDNA have made a number of recommendations that include funding should be protected and go directly to the parent’s choice of childcare provider mean- ing they will pay less. The adoption of a ‘closed loop’ payment system for state-funded childcare benefits such as tax credits will improve effi- ciency and ensure funding gets to the frontline, which would help make childcare cheaper at the point of purchase, and there should be no com- promise on the quality of early education and any reforms, including current ratios, must not undermine quality. For more information visit www.ndna.org.uk NDNABUSINESSSURVEYREPORT EYBONTHESTREETS• 20• EYB
  20. 20. I n 2012, there was a 24.3% increase in the number of children’s day nurseries inspected by Christie and Co for formal RICS ‘Red Book’ valuation purposes compared with the previous year. Courteney Donaldson, Director and Head of Childcare at Christies and Co said: “2012 was a remarkable year in terms of transactional activity in the nursery sector. Deals were driven by the dual need for vendors to exit, largely due to the timing of their finance arrangements and the desire to invest funds in other sectors, whilst purchasers seized the opportunities presented.The result was a landmark year for ma- jor nursery deals. We anticipate that these high profile corporate transactions are a precursor to an increase in activity during 2013 at a regional, small group and single asset level.” Looking ahead at the market activities for 2013, Christies and Co made the following predictions: • Cash buyers will continue to hold the upper hand. • Outstanding capex requirements will impact on prices achieved for ‘tired’ assets. • Bank’s credit sanctioning teams will increasingly need to be guided by advice and valuations prepared by nursery sector specialists. • Challenges are likely to be encountered in facilitating 260,000 new ‘sustainable’ two-year-old places by September 2014. • Ofsted resources may face significant pressures, should operators be dissatisfied by their inspection outcome and choose to lodge an anonymous complaint, in a bid to trigger a further inspection. Last year, Christies made six predictions for the childcare and education sectors, three of which specifically related to the day nursery sector.These were: January intake occupancy figures could play a significant part in driving transactional activity, banks and investors were likely to provide support to dynamic nursery op- erators with proven track records and further consolidation and then maybe a number of sizeable transactions during 2012. Whilst 2012 had its challenges with a vast number of sales and acquisitions of day nurseries taking place, Courteney Donaldson MRICS said at the 2013 Business Outlook Launch held in January that, “Looking forward to 2013, it is unlikely that we will see the same scale of activity amongst the major groups during the next 12 months, principally because there are not too many big national portfolio deals left to do… During 2013, while some nursery business will flourish, for others occupancy levels and margins could remain under signifi- cant pressure, this will impact on profitability and we will see further closures during the year.” ChildcareSectorGrowth-2013 PredictionsfromChristiesandCo •EYBONTHESTREETS EYB • 21
  21. 21. EYBONTHESTREETS• T he Government plans to improve reforms that will enable nurseries to almost double the number of children they care for to help cut childcare costs. In a bid to boost their low popularity among women, the Govern- ment hopes by increasing the places available, this will bring down fees and make it easier for mothers to go back into work. The current average cost of a full-time nursery place is around £115 a week with some nurs- eries charging as much as £300. In an e c o n o m y where child- care costs account for 26.6 per cent of the £26,500 aver- age wage in the UK, more than double the 11.8 per cent average among advanced economies,this can cause great financial strain on parents. Currently, a member of staff is limited to four toddlers whereas under the new reforms, nurseries will be able to take on six two-year-olds to every childcare worker.The ratios for babies under one and for one-year-olds is currently 1:3 but will be raised to 1:4 whilst child-minders caring for up to three under-fives will be able to increase this to four. The new move has been inspired by ratio strategies used in Europe; in Denmark and Ireland the figure is six whilst in France, one qualified staff can supervise up to eight toddlers. Elizabeth Truss, Under-Secretary of State at the Department of Education has been looking at how other countries in Europe operate their childcare policies and will be making some drastic changes.These will include introducing tougher academic standards for early years staff. Previously colleges have been taking on recruits with D grades or lower, however, teenagers training to work in nurseries will now be required to have at least a grade C in GCSE Maths and English. This is to prevent children being looked after by staff who are struggling to read stories aloud to them.Also on the agenda will be a new ‘Early Years Educator’ qualification that will bring the standard of courses up to the equivalent of A-level. Whether the new ratio scheme will work or not, we will not know until it has been set into place. However, there are some who are skeptical about the changes and fear that quality in childcare will suffer. Nurseries Changing Ratios 22• EYB
  22. 22. •EYBONTHESTREETS D ata View provided by Ofsted is a digi- tal tool which allows people to analyse their inspection data in a simple and visual way. It allows interest- ed parties to compare and con- trast performance in inspection in regions, local authority areas and constituencies for early years providers, schools, learning and skills providers, children’s cen- tres and initial teacher education providers. The tool shows ‘state of the nation’ data which means it reports the most recent inspection judgement for all providers open at a particular point in time, i.e. August 2012. It gives a more bal- anced view of the quality of provision across the country at that point in time as it includes an inspection judgement for almost all providers. Data View breaks down the data into detailed information. For example, the ‘remit’ for early years or children’s centres can be further broken down into the type of provider you are interested in such as child-minders, childcare on non-domestic premises or childcare on domestic premises. Also, for early years, you can de- termine the location of the provider by matching the post code of the provider to the Office for National Statistics (ONS) post code file. This source provides information on the government office region, local authority area and parliamentary constituency in which the provider can be found. For income deprivation purposes, Data View allows you to analyse inspection outcomes for providers with a particular level of deprivation. This information is based on the 2010 Income Deprivation Affecting Children Index (IDACI) pro- duced by the Department for Communities and Local Government. For early years, the deprivation of a provider is the deprivation index associated with the location or lower super output area (LSOA) of the provider. The LSOA are divided into five equal groups called quintiles, ranging from the ‘most deprived’ to the ‘least deprived’, based on their IDACI score. Finally, Data View enables interested parties to look at the proportions of places or learners in those providers which fulfils their selection criteria. This includes the number of places that the providers are registered to provide and may, in some cases, be more than the number of children they are caring for at a particular point in time. DATA VIEW DATAVIEW EYB • 23
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