Following the vote in June 2016, various charities have been looking for advice concerning the effect of the decision to leave the EU. Furthermore, some enterprises have found their initiatives positioned in extremely uncertain scenarios, with application submissions to funds such as the ERDF (European Regional Development Fund) pending and no solid or reliable support from the Government or regional LEPs regarding whether the financing streams will still come to fruition.
Whilst at this stage nobody knows with certainty what the impact will be, it is suggested that non profit organisations confronted with the difficulty of an unknown outcome from European funding comply with these steps:
1. Don’t Panic!
In the years following 2008, charities as well as not-for-profits across the UK made it through one of the most awful periods of economic downturn the country has ever seen. If you made it through the tough times of the last eight years, you’re highly likely to make it through BREXIT too.
2. Speak With Current Funders
If you are mid-way through fundraising for a capital undertaking, talk with your current funders now. In case they have actually committed already it’s since they have confidence in your project and will certainly be understanding of your position – some may even raise their funding offer to cover a potential deficiency.
Facing the issue directly and providing a short evaluation of how you plan to mitigate against a possible funding deficit – looking for additional funders, scaling or phasing a project and so on – will be viewed positively by both present and potential contributors alike, creating confidence in your organisation.
If you require guidance regarding your growth strategies or fundraising challenges, do not hesitate to get in touch with one of the UK’s leading fundrasing consultants www.giftedphilanthropy.com their website that is loaded with lots of up to date information on effective fundraising strategies..