Following the referendum in June, various charities have actually been looking for our advice regarding the impact of the decision to leave the EU. In addition, some organisations have found their initiatives placed in extremely uncertain scenarios, with applications to funds such as the ERDF (European Regional Development Fund) pending and no solid or dependable support from the Government or regional LEPs as to whether or not the financing streams will still come to fruition.
Whilst at this stage nobody knows with certainty what the effect will be, we ‘d suggest that non profit organisations faced with the challenge of an unknown outcome from European funding adhere to these essential steps:
1. Do Not Panic!
In the years after 2008, charities and not-for-profits across the UK survived one of the most awful periods of economic crisis the nation has ever seen. In case you made it through the tough times of the last 8 years, you are very likely to make it through BREXIT too. www.giftedphilanthropy.com is definitely a site that is loaded with lots of up to date information regarding fundraising strategy.
2. Speak With Current Funders
If you’re mid-way through fundraising for a capital undertaking, communicate with your current funders now. If they have committed already it is because they believe in your project and will certainly be understanding of your situation – some could even raise their funding offer to cover a potential shortfall.
Facing the issue head on and giving a short review of how you plan to mitigate against a possible funding deficit – seeking additional funders, scaling or phasing a project and so on – will be viewed positively by both current and potential contributors alike, creating confidence in your organisation.
In case you need advice about your growth strategies or fundraising difficulties, don’t hesitate to call one of our Directors for a casual chat.