Royal Foundation Business Taskforce for Early Childhood report urges businesses to support young families to help boost the economy
The Royal Foundation Business Taskforce has released its Early Childhood’s report. Titled “Prioritising early childhood for a happier, healthier society”, the report sets out the business case for investing in early childhood in the workplace, community, and wider society.
The Taskforce, which was established by The Princess of Wales in March 2023, features members such as Ikea, The NatWest Group and The LEGO Group, all of whom have worked collaboratively to recognise the scale of opportunity and the role that business can play in supporting the childcare sector.
Published on 21st May, the report outlines how investing in early childhood could generate at £45.5 billion for the national economy per year. In addition, it highlights five areas where businesses can do more to make the greatest impact for young children and wider society, these are:
• Building a culture that prioritises early childhood within businesses, local communities, and wider society.
• Helping families facing the greatest challenges access the basic support and essentials they need.
• Offering parents and carers greater support, resources, choice, and flexibility with their work.
• Prioritising and nurturing social and emotional skills in young children and the adults in their lives.
• Supporting initiatives which increase access to quality, affordable and reliable early childhood education and care.
The report’s release was followed by the announcement of several new business initiatives for the early years sector, including funding for early years apprenticeships and leadership programmes, creating welcoming spaces for families with young children and increased support for baby banks.
The Centre for Early Childhood and Taskforce members will be speaking to business leaders across the UK throughout the year to encourage businesses of all sizes to join the movement. The report has been greeted with positivity within the sector, if you want to read more about it please visit the link here.