After the referendum in June, quite a few charities have been seeking our advice about the impact of the decision to leave the EU. Additionally, some organisations have found their projects positioned in extremely unpredictable situations, with application submissions to funds like the ERDF (European Regional Development Fund) pending and no strong or dependable support from the Government or regional LEPs regarding whether or not the funding streams will still come to fruition.
Whilst at this phase no one knows with confidence what the impact will be, we 'd suggest that non profit organizations confronted with the challenge of an unknown result from European funding adhere to these crucial steps:
1. Don't Panic!
In the years after 2008, charities and not-for-profits throughout the UK survived one of the most awful times of economic crisis the country has ever seen. In case you made it through the tough times of the last eight years, you are most likely to make it through BREXIT as well. You'll find many thousands of websites with information involving 'fundraising strategies for charities' this is certainly among the finest ones annual giving consultants.
2. Communicate With Current Funders
If you are mid-way through fundraising for a capital undertaking, speak with your present funders now. In case they have committed already it's simply because they have confidence in your project and will be understanding of your predicament - some may even increase their funding offer to cover a possible shortfall.
Dealing with the issue head on and giving a short review of how you intend to mitigate against a potential funding deficit - seeking additional funders, scaling or phasing an undertaking and so on - will certainly be perceived favorably by both current and potential contributors alike, generating confidence in your organisation.
In case you need advice about your growth strategies or fundraising challenges, don't hesitate to speak to one of our Directors for an informal conversation.