In Norway at least, most childcare is provided by the state (via the local authority). There are some private nurseries but there are very strict rules on how they operate, to the point that the laws are hostile against their existence. What's interesting is that there are also private, not for profit, parent run nurseries, where the nursery is managed & budgeted by a board made up of the parents. There is an owner, making a reasonable salary like profit, but no shareholders. Nothing's perfect but works really well to optimise spending and minimise public money going to private profits.