SO2325a Childminding as a Sole Trader

SO2325 Childminding as a Sole Trader (for Childminders running a Business from their own home)

2 x 0.5 day/3 hr. sessions

Workshop Content:

Session 1 Childminding as a Business

The opening section of the training programme will discuss the particular challenges of running, owning and managing a childminding business.

Topics to be covered include the following:

• Running a business from home – what do I need to know?
• How do I know if I’m making a profit or loss?
• What costs should I include in the costs of the childminding business?
• Should I include some of my own home costs?
• How much should I pay myself? Should I pay myself a set wage? or Should I vary my wages each week or month?
• How do I decide on a fee for childminding?
• How do I maintain a “professional approach” when working from home?

Workshop 2 Viability and Sustainability in Childminding:

Financial information is the key to survival. The covid crisis has shown that, unless childminding businesses have a clear understanding of the costs being incurred, they cannot respond to critical changes in a business in a viable or sustainable manner.

As a result, the session will highlight the importance of all financial information for the current service, including:

• Fees
• Occupancy
• Costs
• Breakeven points

Making the most of tax:

• Maximising your entitlements when working from home
• Working as a sole trader in the childminding sector