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Children & Early Years: Lack of business skills costs nurseries

1 min read Early Years
A lack of business sense is costing nurseries millions of pounds in funding, according to a report on social enterprise in the sector.

The report, Social Enterprise: A Childcare Solution for London, published this week by policy group Capacity, looked at nurseries in the capital that operate as social enterprises.

Researchers found social enterprise nurseries had more access to funding, lower overheads and were viewed more favourably by banks.

However, report author and Capacity director Margaret Lochrie said too many nurseries were unable to get social enterprise status because of poor skills in areas such as developing business plans.

She said: "Important skills are lacking in the sector, which stops many from unlocking extra funding streams."

The report called for the government to put more money into supporting business skills in the nursery sector and said the Department for Children, Schools and Families should take the lead on this.

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