waiving rights to redundancy pay

cr1mson

Just to say there are ways round the personal liability issue such as trustee insurance and setting up a corporate body. This may be out of date as been a few years since I was on committees of playgroups.

Afraid I can't help re whether ok to continue trading so hopefully someone else will.

However here are some of the things we did

- change our hours as they were no longer what people wanted
- had more parent helpers to minimise staff costs
- increased fees
- streamlined our fee collections
- investigated grants from anywhere!
- asked for money from Round Table, Council, basically anywhere
- got in local newspaper when we relaunched with change of hours
- do you pay rent for place? We were fortunate to not have to pay rent as council property but can you negotiate a lower rent or find somewhere cheaper? Thinking that if you are in a rural area they may not have much choice of regular rentals so be happy to reduce rent.
- Can you become a provider for the preschool education if not already that people get free?
- Can you accept childcare vouchers? Might encourage more children.
- Fundraise like mad! We found www.easyfundraising.org.uk helped like quidco but money goes to you, Cauliflower cards was good too as were Tempest photography.
- See if any parents have employers that will do matched fundraising

I know not all will be of assistance but hopefully some might.

Good Luck.

C

mrsm

Hi, sorry if I'm late to this and I've not read all the replies but have you looked into a sustainability grant from you LEA ? I'm treasurer for our preschool and our numbers are very low this term, and next.

I did some figures for this term and next and at one point we looked like we would run out of money this term but we had a few children join us just before funding headcount. Next term is looking as if our expenditure (tweaked to a minimum but obviously staff ratios have to be maintained) will be higher than income but we will just have enough in reserve. However we spoke to our Early Years co - ordinator from the council and she gave us the paperwork for the grant if needed. You have to provide income projection and show you have no money left (we were told we should list our redundancy contingency but explain what it is and it would be disregarded) and there shouldn't be a problem getting the grant.

Speak to your EYC and see what they say ? Hope this helps,