Nursery World - Nursery Management: Finance - Talking about money matters

As more parents struggle with childcare costs, nurseries need to have clear policies about paying fees and collecting debts while remaining sensitive to family difficulties, says Claire Schofield, director of Membership, Policy and Communications at National Day Nurseries Association.

Nobody needs to be told that a clear approach to fee payment is absolutely vital in these straitened times. However, payment can be a sensitive issue - particularly when fees are outstanding - and nurseries need to establish good communication links with parents to minimise problems.

According to NDNA's Business Performance Survey, carried out in November 2011, almost a third of nurseries (32 per cent) said parents were struggling with childcare costs and being late with payments. More than half (51 per cent) of nurseries also said that their occupancy had decreased in the past six months.

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