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The Business Taskforce

The Business Taskforce for Early Childhood was established in March 2023 by The Princess of Wales to galvanise business action on early childhood. Taskforce members have worked together to understand the scale of the opportunity and the role that business can play.

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A dozen members of the Business Taskforce for Early Childhood are shown mid conversation whilst sat around a long wooden table.

Run by business, for business, the Business Taskforce play an essential role in The Princess of Wales’ work to transform the way in which society prioritises and supports children and the adults in their lives during the earliest years.

The impact of the Taskforce members

The Co-op Group

Co-op created a dedicated early childhood fund through its apprenticeship levy share scheme. With contributions across the Taskforce, the scheme has already supported more than 130 early years apprentices. The Co-op has pledged £5 million over 5 years to create more than 600 early years apprenticeships.

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Credit: Ikea

IKEA

Since joining the Business Taskforce, IKEA has formed a partnership with the Baby Bank Alliance. This has included launching a range of products which raised money for Baby Banks across the UK, and 12 IKEA stores supporting their local Baby Banks with product donations and co-worker time and expertise.

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NatWest

In the first year NatWest increased lending for early years providers to £100million, and has now pledged to go even further, extending the target lending to £250m. This means that many more early years settings, who currently find it difficult to access the financial support they need, will now be able to do so, alongside tailored guidance and support to navigate the challenges they face and to seize growth opportunities.

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Deloitte

Deloitte have changed their parental policies to give both parents 26 weeks full pay and Deloitte has funded more than 1300 early years teachers to undertake Teach First leadership qualifications.

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Iceland

Iceland have rolled out their ’emoji posters’ across all their UK stores and helped their 30,000 staff better support young families. They have also launched a range of toddler meals with Mumsnet which raise money for Alder Hey Hospital and aim to support healthy eating.

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Aviva

Aviva have created resources to support employees with children and their managers.

Nursery teacher with young children sitting on the floor smiling into the camera.

The LEGO Group

The LEGO Group have donated sets of Lego to early years providers across every corner of the UK, alongside training videos which emphasise the importance of social and emotional skills. They have also with a coalition of partners, has delivered a local project in Tower Hamlets to harness play to promote children’s wellbeing and develop social and emotional skills.

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“Last year, Her Royal Highness The Princess of Wales brought us together. She asked us to think radically about our approach to early childhood and the golden opportunity it presents to transform the lives of children today, as well as their future life outcomes.

“Since then, our organisations have come together to share our knowledge and experience, as well as deepen our own understanding of the importance of early childhood development, to establish this comprehensive and compelling business case for change. 

“If we get this right, the results for business, for the economy and for society are clear for all to see: a happier, more productive workforce today; a future workforce equipped with the skills needed to deal with all the complexity and challenges of the modern world, and £45.5 billion in value added for the national economy each year. “As leaders of some of the UK’s largest businesses, we have a responsibility, but also a very clear vested interest in driving change in this area. We hope this report will encourage businesses of all sizes, across the UK, to join us and help build a healthy, happy society for everyone.”

Taskforce member CEOs who released the joint statement are:

  • Dame Amanda Blanc, Group Chief Executive Officer, Aviva
  • Shirine Khoury-Haq, Chief Executive Officer, The Co-operative Group
  • Richard Houston, Senior Partner and Chief Executive, Deloitte
  • Richard Walker, Executive Chairman, Iceland Foods
  • Peter Jelkeby, Chief Executive Officer, Ikea UK and Ireland
  • Christian Pau, General Manager UK & Ireland, The LEGO Group
  • Paul Thwaite, Chief Executive Officer, NatWest Group
  • Richard Sharp, Head of Unilever UK&I