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What is the Priority?
Increase the economic viability and sustainability of child care businesses
Why is this Priority Important?
- Child care businesses operate on tight margins, with low profitability, face structural barriers to accessing credit, and experience high staff turnover
- Financial and management challenges associated with operating small childcare businesses is causing closures in communities where the need for these services is the highest.
- There is limited infrastructure, or in some cases no infrastructure, to address the unique needs and support the success of home-based child care businesses (Re-invent vs Rebuild)
- Many small child care businesses struggle to have the capacity to both deliver sustainable, high quality early care and education and carry out all the necessary business/administrative tasks of operating a small business. (Re-invent vs Rebuild)
- Child care providers in mostly rural and completely rural areas have unique needs not well met by current approaches.
What are some Common Sense Solutions?
The Child Care Innovation Fund is seeking equitable strategies to increase the economic viability and sustainability of child care businesses. Below are some examples of solutions others have tried to make an impact on this Priority. These examples should not limit the innovation ideas proposed by grantseekers.