FEASIBILITY ANALYSIS OF SETTING UP A CRECHE WITHIN THE CENTRAL BUSINESS DISTRICT

Abstract

During the post-war baby boom period, the government was concerned that Singaporeans were multiplying too fast for the economy to keep pace with. Of late, the government is changing its attitude and instead encouraging the people to "have three or more children if you can afford it". On the other hand, it is also worried about the trend of married women not continuing to work after having kids. Recognizing this dilemma, the government gave incentives to lure women back to the labour force. But the greatest concern of these women is child care. "Kentucky Fried Children", a memorable label coined by Joseph Featherstone expresses much of the concern of many early opponents of proprietary creches. But the question is can proprietary creches survive economically to produce such children. This issue is especially magnified if the creche is to be initiated in the Central Business District (CBD) where a creche may not be fully utilising space to its highest and best use. Therefore the need for creches is real but supply is simply not keeping up. It is interesting to note that although private operators and landlords have instituted several creches all over the island, they have yet to venture into the CBD. By appreciating the specific and uncertain variables, an investor can conduct a feasibility study to ascertain the viability of establishing a creche within the CBD, rather than relying on gut feelings and rumours. Hence having "Kentucky Fried Children" in the CBD may just not be very far away.