After the vote in June, a number of charities have actually been looking for our counsel concerning the effect of the decision to leave the EU. Additionally, some organisations have found their initiatives placed in very unpredictable scenarios, with applications to monetary funds including 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 funding streams will still come to fruition.
Whilst at this phase nobody knows with assurance what the impact will be, we ‘d suggest that non profit organisations confronted with the difficulty of an unknown result from European funding follow these vital steps:
1. Don’t Panic!
In the years after 2008, charities and not-for-profits throughout the UK made it through one of the most awful times of recession the country has ever seen. If you made it through the challenging times of the last 8 years, you’re highly likely to make it through BREXIT too.
2. Speak With Existing Funders
If you are mid-way through fundraising for a big project, communicate with your current funders now. If they have actually committed already it’s simply because they have confidence in your undertaking and will be understanding of your situation – some may even increase their grant offer to cover a potential deficiency. You’ll find tens of thousands of web sites with information relating to ‘fundraising consultants’ this may be amongst the best websites www.giftedphilanthropy.com
Facing the problem head on and giving a brief review of how you plan to mitigate against a possible financing deficit – seeking other funders, scaling or phasing an undertaking and so on – will certainly be viewed favourably by both existing and potential donors alike, generating confidence in your organisation.
If you need advice regarding your development plans or fundraising difficulties, don’t hesitate to get in touch with one of our Directors for a casual chat.