Funding

1
Funding Fundraising
2
Does the Business Need External Funding?
Minimal Social Agenda Low need for external
funding
Strong Social Agenda High need for external
funding
3
Maximising Take-Up Income from Fees

• Not Enough Places Filled
• Retaining existing customers
• Improving sales to existing customers
• Advertising and marketing to attract new
  customers
• Discounting
• New Products
• Not enough income from places .
• Examine the fee structure
• Increase number of places
• Examine your costs
• Expand into new areas of business

4
Does the Business Need External Funding?

• Developing a Fundraising Strategy
• Maximising Take-Up Income from Fees
• Working Tax Credit Access Funds
• Fundraising Support
• Primary Potential Funders
• Secondary Funding
• Tertiary Funding

5
Types of Funding
Primary Funding Sources These are funds that are
specifically targeted at the childcare sector
Secondary Funding Sources Funds that are not
directly for childcare but are often used to
support childcare development usually within a
regeneration initiative Tertiary Funding
Sources These are sources of funding that can be
accessed by childcare providers, but often take
considerable effort. Scraping the Barrel
Funding Sources If a provider is relying on
these type of funds to sustain their business,
there must be sever doubts regarding their
long-term sustainability.
6
Tasks
Identify the most appropriate sources of external
funding for a range of childcare organisations,
giving your reasons. Develop an exit strategy
for a childcare business that has been allocated
3 years of revenue funding.
7
Skills, Knowledge and Competences

• You understand the effects that social agendas
  have on the funding requirements of childcare
  businesses.
• You work with childcare organisations to improve
  their business practices before encouraging them
  to seek external funding.
• You work with businesses to examine their costs
  and fee structures before you encourage them to
  seek external funding.
• You provide childcare businesses with advice and
  information regarding access funds and tax
  credits.
• You make an assessment of the organisations
  ability to manage and monitor external funding
  before providing them with specific funding
  advice.

8
Skills, Knowledge and Competences

• You have specific knowledge of the range of
  funding opportunities that are available and
  appropriate to individual childcare
  organisations.
• You encourage businesses to develop a funding
  strategy within their overall business plan
  before they seek external funds.
• You are able to match the funding needs of
  childcare businesses with the priorities of
  funders.
• You advise businesses on best practice in
  completing funding applications.
• You are able to support businesses, once funding
  has been allocated in monitoring and reporting to
  funders.
• You ensure that businesses that access external
  funding have an exit strategy that sets out how
  their business will be sustained after the
  external funds have been spent.