What You Need to Know About the Work Opportunity Tax Credit

The Work Opportunity Tax Credit (WOTC) is a tax credit program initiated by the federal government through the Internal Revenue Service to increase employment opportunities for specific groups of people who might otherwise find barriers to employment. As a business owner, if you hire an employee from one of the target groups outlined by the WOTC program, you are eligible …

Why You Need a Financial Dashboard for Your Childcare Business

Creating a financial dashboard is key to measuring the fiscal performance of your childcare business. In this article, we provide a brief overview of your financial dashboard, including what it is and why you need one, and we offer several best practices to help you get started with a financial dashboard that works for your childcare business. Read on to …

Top 4 Services to Outsource for Your Childcare Business

You’re always looking for ways to save money and increase revenue for your daycare business. Did you know one of the most cost-effective strategies you can use to maximize your childcare company’s profitability is outsourcing? It’s true.  Businesses of all sizes and across all sectors of the economy use outsourcing as a way to cut costs and get the most …

Childcare Business Financial Strategy: Benefits of Outsourcing Your CFO

Have you considered outsourcing the role of CFO for your childcare business? In this article, we examine the role of a Chief Financial Officer (CFO) in your childcare company’s organizational structure and explore the benefits of outsourcing your CFO, as opposed to hiring a full-time, traditional CFO position for your organization. Read on to find out more. The Role of …

Childcare Business Financial Strategy: Benefits of Outsourcing Your Accountant

You already know how important it is to get the financial side of your childcare business in order. Maybe you have considered adding a full-time accountant or bookkeeper to your childcare business staff. You have another option: outsourcing your accounting services. In this article, we review the role of an accountant in operating your childcare business and explore the benefits …

High Cost of Low Employee Pay: Avoid These 3 Employee Hiring Mistakes

Is your approach to the employee hiring process costing you money? As a childcare business owner, you want to hire employees that will contribute to the profitability of your company, not detract from it. In this article, we explore three common mistakes that business owners make in the employee hiring process that come with a high cost. Keep reading to …

Employee Bonuses: How to Create a Bonus Structure that Works for Your Business

An employee bonus program can be an excellent way to motivate your employees to do their best work and reward the achievements of your dedicated daycare staff. In the following guide, we will explore the different types of bonuses that small business owners can offer to employees and provide insight into the best practices for creating an employee bonus structure …