Following the vote in June, various charities have been looking for our guidance concerning the impact of the decision to leave the EU. Additionally, some enterprises have found their projects placed in extremely unpredictable scenarios, with application submissions to monetary funds such as the ERDF (European Regional Development Fund) pending and no solid or consistent guidance from the Government or regional LEPs as to whether or not the financing streams will still come to fruition. For those who are interested in more info in relation to fundraising audit this specific internet page Gifted Philanthropy fundraising advisers has numerous more superbly written articles with regards to legacy consultant.
Whilst at this stage nobody knows with assurance exactly what the impact will be, we would certainly suggest that charities faced with the difficulty of an unknown result from European funding comply with these key steps:
1. Do Not Panic!
In the years after 2008, charities and not-for-profits throughout the UK endured one of the worst periods of economic crisis the country has ever seen. In case you made it through the tough times of the last 8 years, you are very likely to make it through BREXIT also.
2. Speak With Existing Funders
If you're mid-way through fundraising for a capital undertaking, talk with your current funders now. If they have actually committed already it's because they believe in your project and will certainly be understanding of your predicament - some could even increase their funding offer to cover a potential deficiency.
3. Mitigate
Dealing with the problem head on and giving a short evaluation of precisely how you intend to mitigate against a possible financing shortage - seeking other funders, scaling or phasing an undertaking and so on - will certainly be perceived favorably by both present and potential contributors alike, generating confidence in your organisation.
In case you require advice regarding your development strategies or fundraising challenges, feel free to call one of our Directors for an informal chat.
