Following the referendum in June, various charities have actually been looking for our counsel regarding the impact of the decision to leave the EU. Furthermore, some enterprises have found their projects placed in extremely uncertain scenarios, with application submissions to monetary funds including the ERDF (European Regional Development Fund) pending and no solid or dependable support from the Government or regional LEPs regarding whether or not the funding streams will still come to fruition. You can find tends of thousands of internet sites with information and facts on the topic of ‘hlf resilient heritage’ this really one of the best ones www.giftedphilanthropy.com
Whilst at this phase nobody knows with assurance what the effect will be, we ‘d recommend that charities confronted with the difficulty of an unknown result from European funding adhere to these key steps:
1. Do Not Panic!
In the years following 2008, charities as well as not-for-profits throughout the UK made it through one of the worst periods of economic downturn the nation has ever seen. If you managed to get through the difficult times of the last 8 years, you’re most likely to make it through BREXIT too.
2. Speak With Existing Funders
If you’re mid-way through fundraising for a capital project, talk with your current funders now. If they have committed already it is because they have confidence in your undertaking and will certainly be understanding of your position – some might even increase their funding offer to cover a possible shortfall.
Facing the problem directly and providing a brief evaluation of precisely how you plan to mitigate against a potential funding deficiency – seeking additional funders, scaling or phasing a project and so on – will be perceived favourably by both current and potential contributors alike, generating confidence in your organisation.
In case you require advice concerning your growth strategies or fundraising difficulties, feel free to get in touch with one of our Directors for a casual conversation.