Nursery World - Costs: Part 7

In the latest part of her series on managing costs, Karen Faux explores how settings can get to grips with budgets

Achieving efficiency when it comes to balancing the books is a challenge for many single-site nurseries, as well as small chains, which are striving to be sustainable in the current business climate. Without the economies of scale or purchasing power enjoyed by the bigger groups, it is imperative that they understand and manage every cost down to the last penny.

Ideally, business planning should be an exercise that involves the whole team, and provides key performance indicators for individuals to work to. Introducing staff to budgets encourages their financial awareness, as well as their sense of responsibility when it comes to dealing with problems such as parents’ late payments – and doing so in a business-like way.

Register now to continue reading

Thank you for visiting Nursery World and making use of our archive of more than 35,000 expert features, subject guides, case studies and policy updates. Why not register today and enjoy the following great benefits:

What's included