Right after the vote in June, a number of charities have been seeking our guidance concerning the effect of the decision to leave the EU. Additionally, some organisations have found their initiatives positioned in very uncertain scenarios, with application submissions to funds including the ERDF (European Regional Development Fund) pending and no firm 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 stage not one person knows with assurance exactly what the effect will be, we would certainly recommend that non profit organizations faced with the difficulty of an unknown outcome from European funding follow these vital steps:
1. Do Not Panic!
In the years following 2008, charities and not-for-profits throughout the UK survived one of the most awful periods of recession the nation has ever seen. In case you made it through the challenging times of the last eight years, you are highly likely to make it through BREXIT also.
2. Communicate With Current Funders
If you are mid-way through fundraising for a capital undertaking, speak with your current funders now. In case they have actually committed already it is since they have confidence in your project and will certainly be understanding of your predicament - some could even increase their grant offer to cover a potential deficiency.
Dealing with the problem directly and providing a brief review of how you plan to mitigate against a potential financing deficiency - seeking other funders, scaling or phasing a project etc. - will be viewed positively by both existing and potential donors alike, generating confidence in your organisation.
In case you require advice concerning your growth strategies or fundraising difficulties, don't hesitate to speak to one of our Directors for a casual chat. fundraising advisers is definitely a site that has lots of up to date info about charity consultant.