The initial economic impact of COVID-19 on South Carolina's child care sector [Executive summary]
Between April 17 and April 27, the Institute for Child Success (ICS) surveyed early care and education providers, trying to understand more about the effect of the pandemic on the already-fragile early care and education market. The results of the survey show that, like for many other small businesses, the economic impact for child care centers has been sharply negative. The sector has already experienced approximately $40 million in lost revenue, and about half of all centers have closed. Those that remain open are serving a fraction of their prior students, so the overall supply has reduced to approximately one-third of pre-COVID capacities. Those centers that do remain open are struggling to manage basic operations, and many providers feel that governmental supports are challenging to access. Many are also struggling to understand how they might be able to reopen once the pandemic subsides. (author abstract)
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The initial economic impact of COVID-19 on South Carolina's child care sector