Child Care Shortages Negatively Impacting Small Businesses
The shortage of childcare services is affecting small business operations as their employees can't find suitable programs for their children.
Small businesses across the U.S. are struggling to maintain productive teams due to lack of childcare options, according to a recent survey.
This finding comes from Goldman Sachs 10,000 Small Business Voices, a nationwide survey of more than 1,200 small business owners. Of those business owners, 84 percent believe that it has been difficult for working parents to afford high-quality child care, and 57 percent said that there are not enough childcare programs where they live. And it’s already affecting their operations; 35 percent said their employees have had to cut work hours due to the cost or availability of childcare. And 62 percent said that being able to offer a child care benefit to employees would significantly benefit their ability to recruit and retain employees.
So it’s clear that a lack of childcare options doesn’t just impact working parents. Any issue that significantly shrinks or negatively impacts the workforce can make it harder for small businesses to find the top talent that would really help their businesses grow and thrive.
Jen Legere, founder and owner of child care business A Place to Grow told The 19th, “Child care is the workforce behind the workforce. Until we really start to support that child care workforce and increase the level of professionalism across our workforce and create career pathways for them, we are not going to be able to grow more child care centers and to increase capacity across the United States — and then support our businesses.”
The Goldman Sachs survey found that small business owners support a variety of policy changes to support affordable child care, including federal funding programs and tax credits.
The lack of affordable options and reliable childcare workers is a problem that likely requires a multifaceted solution. But it’s clear that this isn’t just an issue that impacts the childcare industry. Its impact on working parents means that the quality of childcare options bleeds into every other industry. So addressing it should be a priority for any policy makers who want to help small business owners.
Image: Envato
This article, "Child Care Shortages Negatively Impacting Small Businesses" was first published on Small Business Trends
