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Home > Business/Finance > Training and Education > Schools
Childcare Market Assessment
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The population of 0 to 9 year-olds declined between 2002 and 2006, despite a slight increase in the birth rate between 2003 and 2005. Nevertheless, demand for childcare has continued to rise, as mothers of young children have continued to opt to work either full or part time. Key Note estimates that the total childcare market (incorporating nurseries, childminders and nannies) grew by 30.1% between the years ending March 2004 and 2008, to £4.79bn.
Since the introduction of the National Childcare Strategy in 1998, the Government has introduced many measures to improve conditions for working parents and their children. According to research from the Daycare Trust and the National Centre for Social Research, the strategy to expand early-years education seems largely to have worked well, although parents still encounter barriers to accessing childcare, such as cost and flexibility. The Childcare Act 2006, the creation of the Department for Children, Schools and Families (DCSF) in 2007 and the Children's Plan of 2007 have all been initiatives that have kept childcare firmly on the Government's agenda over the past 2 years and, through these, the Government is making attempts to address the issues raised.
The private-nursery sector has continued to experience a period of consolidation. The falling child population and increasing competition from the state sector as a result of government initiatives have meant that nursery chains have developed with caution, as they are faced with greater competition from primary schools and state-school-managed wrap-around care, as well as growth in the preference for childminders and nannies, following government tax breaks for their employers.
Key Note forecasts that between 2009 and 2012, the total UK childcare market will continue to grow at a steady rate year-on-year.
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