Financial Planning is extremely important when operating any childcare business. A structured financial planning system helps to manage day-to-day activities smoothly and inform future business planning processes. Good financial management helps to keep your business sustainable. These tools have been developed to support providers to budget and record financial information.
Guidance to Support Business and Financial Planning – added 10/06/2021
Financial Planning Tool – revised 27/04/21
Cash Flow forecasting is a key aspect of financial management of a business, planning its future cash requirements to avoid a crisis. Identify potential shortfalls in cash balances in advance—think of the cash flow forecast as an ’early warning system’. This is, by far, the most important reason for a cash flow forecast.
Planning is key for prioritising and managing financial recovery, some example templates can be found below to support you in your action planning.
Financial Recovery Action Plan – added 07/07/2020
Action Planning Template – added 07/07/2020
Action Plan – Example – added 06/05/2021
Business Health Check
Measures how your business is performing and helps you determine:
- where you need to focus your resources to achieve the most impact
- staffing and management issues that are restricting growth
- specific areas, action plans and sources of support for business improvement
Useful business planning tools including an example of a business heath check can be found on the pacey website Business planning | PACEY