Revenue has decreased by 64% from 2019.
TORONTO (PRWEB) November 16, 2020
The 2020 Child Care Benchmark Report is now available, presenting data provided by child care owners and directors regarding the state of their operations and the impact that COVID-19 has had on their businesses.
“If there is a silver lining to the pandemic, it may be that essential services may finally be given the attention and prioritization that they deserve,” explains Ron Spreeuwenberg, Co-Founder & CEO of HiMama. “We hope this data serves to make well-informed decisions that will benefit our children and those who look after them.”
Key findings from this year include:
- 45% of providers are not confident they will survive if COVID-19 continues for another year.
- Revenue has decreased by 64% from 2019.
- The average teacher salary is $27,156 USD.
- 64% of providers have non-ideal staffing levels.
- 38% of providers are exploring remote learning opportunities.
The new health and safety requirements have placed a tremendous financial, logistical and emotional strain on providers, but this year’s report demonstrates their ability to adapt. While revenue has dropped by 64%, net income has only decreased by 17%, minimizing the potential negative impacts on their businesses.
There are also signs of potential long-term changes to early childhood education, notably how 38% of providers have been exploring remote learning opportunities, 38% of whom plan on continuing to do so after the pandemic.
The full 2020 Child Care Benchmark Report can be accessed here:
HiMama is improving learning outcomes for children aged zero to five. As a social purpose business, HiMama connects families with the early childhood professionals who serve them using the latest mobile technology. Thousands of child care professionals across the globe use HiMama to involve families in their children’s learning and development. HiMama is based in Toronto, Ontario.
FOR MORE INFORMATION, PLEASE CONTACT:
Michael Keshen, Content Marketing Manager, HiMama
See media kit for promotional assets: https://bit.ly/3lnzNtA