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Before COVID-19, more than half of American families already lived in child care deserts (areas with an insufficient supply of licensed child care). The 2020 pandemic decimated the child care industry, forcing widespread closures and leaving families scrambling for solutions.
Entrepreneurs are already building exciting new models to support people to move into this meaningful, flexible profession and also help existing child care providers with their business and operational needs.
There has been a sea change in government policy around care and a wave of funding is coming that could boost the child care market.
Which ones might apply to your business?
Average annual profit growth 2013 to 2019 of Bright Horizons, the largest provider of employer-sponsored child care and back-up child care.
The North Carolina Partnership for Children is using part of its $5M CARES Act allocation to give home-based child care providers in their state a subscription to Wonderschool, paving how tech and government can work together.