Right after the vote in June, a number of charities have been looking for our advice concerning the impact of the decision to leave the EU. Furthermore, some organisations have found their initiatives positioned in very uncertain scenarios, with application submissions to funds like the ERDF (European Regional Development Fund) pending and no firm or consistent support from the Government or regional LEPs regarding whether the financing streams will still come to fruition.
Whilst at this phase nobody knows with assurance exactly what the impact will be, we would certainly suggest that charities confronted with the difficulty of an unknown result from European funding comply with these essential steps:
In the years after 2008, charities as well as not-for-profits across the UK survived one of the most awful periods of recession the nation has ever seen. If you managed to get through the difficult times of the last eight years, you're most likely to make it through BREXIT also.
If you are mid-way through fundraising for a capital undertaking, talk with your present funders now. If they have actually committed already it is simply because they have confidence in your project and will certainly be understanding of your predicament - some could even increase their grant offer to cover a possible deficiency. You can find hundreds of thousands of internet sites with data relating to 'fundraising consultancy' nevertheless this is possibly one of the best ones www.giftedphilanthropy.com.
Dealing with the issue directly and providing a short review of precisely how you intend to mitigate against a potential funding deficiency - seeking additional funders, scaling or phasing a project and so on - will certainly be perceived favourably by both current and potential benefactors alike, creating confidence in your organisation.
In case you require guidance concerning your growth strategies or fundraising challenges, do not hesitate to get in touch with one of our Directors for a casual chat.