Budding Nursery Owners Reveal Their Worst Nightmares

09 November 2011

PEOPLE thinking of setting up a nursery school in the UK have revealed their worst nightmare – securing funding for the business.

Almost a third wanting to become a childcare provider say attracting enough finance for the venture is what keeps them awake at night.

The shock statistic is contained in a far-reaching survey to gauge the main worries of would-be nursery providers across Britain.

About 30% of respondents said the ability to secure finance to fund the business was the biggest concern, while a fifth said they were more worried about whether there was an actual demand for a nursery in the location they were planning to target.

And in third spot in the survey, which was conducted by Gateshead-based nursery insurance broker, NCi Nursery, was the fear of failure. About 16% of those quizzed were most worried about the consequences of the business going pear-shaped, rather than the mechanics of setting up the business.

But Mark Burdett, Sales and Marketing Director for NCi Nursery, said despite the concerns, it was clear that people passionate about childcare were still keen to go it alone in the nursery school sector.

He said: “Regardless of whether you think the credit crunch in now over or we are destined for a double dip recession, people with aspirations to run their own business in the childcare sector are clearly worried about their ability to actually raise money to fund the project.

“Whether the proposed ‘business growth fund’, where our banks have proposed to create a £1.5billion fund to invest in small businesses, goes any way to addressing these concerns is unknown. But what’s clear is that banks still have a great deal of work to do to rebuild relationships with businesses.

“What we find positive is that we are still contacted on a very regular basis for nursery insurance quotes by people considering setting up a day nursery, so despite their concerns, people with a real passion for childcare are still prepared to venture into the nursery World.”

NCi Nursery is the nursery division of Northern Counties Insurance Brokers, which has been helping to protect UK businesses and nursery schools for more than 80 years.

From its Gateshead head office, Northern Counties is one of the UK’s longest established independent insurance brokers.

Editor’s Note: For more information or to interview Mark Burdett call him on 0191 482 1219.

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Budding Nursery Owners Reveal Their Worst Nightmares

09 November 2011

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