As financial conditions worsen, maintaining a positive cashflow will become more challenging. We are working with a number of nurseries throughout the UK to take a more systematic approach to fee collection to monitor cash flow more effectively. With solid cash management systems in place, nurseries can help ensure outstanding childcare fees are paid in a timely manner so arrears don't escalate out of control.
Recently, Daniels Silverman canvassed 28 of its nursery clients on their concerns for 2011 and found that 86 per cent expect the year ahead to be financially tougher than 2010 because of increased tightening of household finances. It also revealed that 82 per cent of parents had expressed concerns to their nursery about their financial situation. As a result, the nurseries surveyed were predicting a rise in payment arrears.
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