All businesses need to be well managed to be successful and sustainable. The information below provides help and guidance on some of the key financial issues.
Invoicing, fees and debt
- Invoicing guidance for childcare businesses (National Day Nurseries Association) (PDF, 38KB)
- Fee policy and bad debt management guidance (PDF, 89KB)
- Financial Planning for Early Years and Childcare Providers course (In order for you to take the course, you may need to create a free Gateway account and then search for 'Financial planning'.)
- Keeping your pay and tax records
- Cashflow forecast template (including startup costs for new businesses) (Excel, 102KB)
- Cashflow forecast template (Excel, 99KB)
HM Revenue & Customs (HMRC) provides webinars for employees and employers on topics such as starting a business, employing people, National Insurance, corporation tax and charities.
Redundancy and exit costs
These costs would include redundancy costs, outstanding payments on premises, professional fees and advance payments from parents. Where possible, we advise having contingency savings to cover these types of costs. If you are only making redundancies GOV.UK has a redundancy payment calculator.