Mid-sized care home owners confident of growth in year ahead
Mid-sized care home owners are confident about their prospects for growth over the next 12 months, according to a survey conducted by Barclays Commercial Bank. The survey suggests most care home owners feel buoyant about the sector as a whole and their individual prospects to increase both income streams and the value of their business.
Sixty-eight per cent expect moderate growth or better in terms of revenue streams over the course of the next year. As a result, 81% also feel the value of their business will increase over the same period; with almost a third (29%) predicting strong growth. Only one per cent felt that there was any chance of their business declining. However, despite business confidence and an understanding of the financial landscape, the research also suggests almost one in six (15%) are unaware of recent regulatory changes such as the Mental Capacity Act and the increase in holiday entitlement for staff. These changes could lead to unexpected funding needs for training and temporary c