Message to business community: early childhood development an investment
Vancouver Island News Group -- Campbell River Mirror, Business
May 25, 2007

No less than the economic future of our country is at stake if we don't invest in our youngest citizens, former Royal Bank of Canada executive vice president Charles Coffey told a gathering of educators, child care workers and business people May 17.

"The only thing I can promise you is you will leave here tonight with a little better understanding of what is at stake," Coffey said at a presentation organized by the Campbell River Success by 6/Understanding the Early Years group. The evening was designed to raise awareness among Campbell River's business community of the importance of early childhood development to the economy. One-quarter of Campbell River's children are not properly prepared for school by the time they start Grade 1 and that has consequences for the local economy. Children not prepared to enter the school system never catch up and become a drain on society. Properly preparing children for school by overcoming poverty, nutritional deficiencies and learning disadvantages results in more productive individuals entering the work force.

It is the business community that must push for that investment to be made, Coffey said, because, like it or not, it is the business community that makes things happen. If business recognizes the value of investing in young children, and demands that it happens, then the politicians will act on their request.

The SB6/UEY event was aimed at convincing Campbell River's business community that ECD is worth investing in.

Traditionally, our political system places economic development as the specialty of the political right while social development is the bailiwick of the left.

Coffey says we have to go beyond those traditional points of view and recognize that social development, particularly of children, has an economic benefit.

"Business leaders need to step up to the plate," Coffey said.

Every dollar invested in early childhood development results in a $17 return for the economy, Coffey said.

"I don't know...any stock market in the world that performs at that level," Coffey said.

Unfortunately, business doesn't currently see the link between investing in ECD and improving economic importance. The distance between investment in ECD and return is great, Coffey said.

Convincing business of the impact of ECD continues to be a challenge, however, Coffey said. Business executives underestimate the impact of quality ECD on the development of quality, skilled workers.

What is being called for is the implementation of a universal early childhood program to meet the needs of parents, whether they be in the workforce or stay at home.

"I want to make it very clear the primary responsibility for raising children rests with parents and families," Coffey said. "This isn't about government raising children.

"This is about striving for equality of opportunity."

Studies emphasize that parents need a support system, Coffey said.