Right after the vote in June, various charities have actually been looking for our advice about the effect of the decision to leave the EU. Additionally, some enterprises have found their initiatives placed in extremely uncertain scenarios, with application submissions to funds like the ERDF (European Regional Development Fund) pending and no solid or consistent support from the Government or regional LEPs regarding whether the funding streams will still come to fruition.
Whilst at this phase nobody knows with assurance what the effect will be, we ‘d suggest that charities faced with the difficulty of an unknown result from European funding adhere to these vital steps:
In the years following 2008, charities as well as not-for-profits throughout the UK survived one of the most awful times of economic crisis the nation has ever seen. In case you managed to get through the challenging times of the last eight years, you are very likely to make it through BREXIT as well.
If you are mid-way through fundraising for a capital project, speak with your current funders now. If they have committed already it is because they have confidence in your undertaking and will be understanding of your position - some might even increase their funding offer to cover a possible shortfall. Click here for additional information fundraising strategies for charities.
Facing the issue directly and providing a short evaluation of precisely how you intend to mitigate against a potential financing deficit - seeking additional funders, scaling or phasing a project etc. - will be viewed favourably by both existing and potential donors alike, creating confidence in your organisation.
In case you need advice regarding your growth strategies or fundraising challenges, feel free to call one of our Directors for a casual conversation.