New system for early years to calculate funding
A new funding calculator has been created to inform early years providers of how the new funding might impact on their settings. The changes to the funding are a big development for those in the early years sector however many have been left feeling uncertain of the changes that are being made and the impact these changes will have.
The calculator enables providers to search for their local authority and then discover the funding that is allocated to their authority and other specific funding areas. This in turn will give early years providers a rough idea of how much they can expect to receive, something which will be a great relief for many providers.
The changes to the funding have caused much concern for early years providers as many do not know how this is going to impact their settings. Funding for children is currently seen as minimal and because of this many early years settings are struggling to thrive as a business and some smaller settings are closing.
It is hoped that the new changes being made to early years funding will lead to positive outcomes for childcare business both large and small and that the introduction of the funding calculator will clear up much of the confusion. The government are currently running a consultation and it is hoped that if people are more aware of the changes and the impact through using the calculator the more early years providers there will be to respond.
If practitioners, managers and providers are still confused there is also a guidance document that has been released, which is the new funding guide. It is hoped that using the two resources together providers will feel more knowledgeable and secure in the changes that are going to take place.