EO announced three winners of its Childcare Business Challenge, who combined, received $30,000 to implement newly designed business plans in Smyth, Russell, and Washington counties.
Discovery Daycare Inc., Grace Christian Academy, and Itty Bitties Academy had the winning plans, which included long-term strategies to expand capacity in addition to specialized services such as speech therapy, after school programs, and camps.
The Childcare Business Challenge was designed by EO as a kick-off for its Shared Services Alliance, a program aimed at strengthening a network of over 200 existing childcare providers in Southwest Virginia.
Participants in EO’s Childcare Business Challenge received expert coaching, training, and resources to create custom business plans tailored to their organizational structure and business goals. At the end of the challenge, the business plans were submitted for the opportunity to win additional funding to support implementation.
“We know that childcare providers are a critical piece of our economic ecosystem,” explained Travis Staton, CEO and President of EO. “Without childcare, families in our region cannot get to work, businesses cannot run at their full potential, and our local economy suffers.”
In a recently published Southwest Virginia Childcare Landscape report, EO found that more than half of employers reported challenges recruiting and retaining staff because of childcare shortages. Meanwhile, childcare operators are challenged with the same staffing challenges as the rest of the economy and can benefit from administrative solutions and technologies that streamline their operations.
“EO is investing in these childcare and education providers because we know this is key for a healthy economy”, explained Lindsey Holderfield, Director of Employer Services at EO. “The Shared Services Alliance alleviates childcare and educator burnout, helps businesses cut overhead expense so they can attract and retain talent, and enables business owners to focus more on the children and families they serve.”
The Shared Services Alliance is made possible because of philanthropic support from the Wellspring Foundation of Southwest Virginia and the Anne and Gene Worrell Foundation. The Childcare Business Challenge winners received awards from EO and People Incorporated to implement their business plans.
EO, New River Mount Rogers Workforce Development Board, and the Southwest Virginia Workforce Development board, with funding from governor-directed Workforce Innovation and Opportunity Act, are also designing a Directors Academy for childcare directors and administrators that is expected to launch this summer.
Be the first to comment on "Childcare Business Challenge winners announced"