Real cost of becoming a registered CM?

[Mung]

A neighbour has asked me to look after DC twice a week for 3 hours (school run in evening). I now know (thanks Katymac) that if I am in my own home I must register as a CM. I could go to their house and avoid having to register, but I would prefer to be in my own home.

So, those of you who have already set up as CMs, could you tell me how much the initial outlay would be and whether you think it is worth the stress of Ofsted, paperwork, declaring the payment (albeit a pittance) and anything else you can think of.

The only real bonus would be that i could help out in the holidays too and maybe (a HUGE maybe) take on more children too. Although with a 2 year old and a 5 month old, I am not sure how many extra I could take on.

Ofsted have annual registration fee of about £15 (may have gone up again), NCMA annual memebrship and public liability insurance is about £60. You need an attendance register, accident and medication book, contracts and child record forms, policies, safety equipment (but will probably have that anyway with your little ones), etc etc.

However depending on your area you may get a start up grant to help you financially.

I recommend you contact your local children's information service, and ask them. ell them you are considering registering and they will put you in touch with someone in your area who is in the know locally.

You could have 1 more

In our area it's a £300 grant which paid for contracts/insurance/dr's fee/a few extra toys etc

Think about it - I enjoy it

I dont know if its only in brum but the grant system has changed - you now have to submit a business plan detailing how you plan to run your business and what you need money for - you also have to create a 2 year business plan showing how you will be a profitable business... You can offer to put an amount towards what you need the funding for but it can be up to any amount (though its possible that they may only offer half of what you are asking for). One of the stipulations of receiving funding is that you work towards level 3 childcare.