Right after the referendum in June, a number of charities have actually been seeking our counsel regarding the effect of the decision to leave the EU. In addition, some organisations have found their initiatives placed in extremely unpredictable scenarios, with application submissions to funds like the ERDF (European Regional Development Fund) pending and no firm or reliable support from the Government or regional LEPs regarding whether or not the financing streams will still come to fruition. This blog planned giving consultants provides extensive more info on the main topics prospect researcher.
Whilst at this stage nobody knows with confidence 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. Don't Panic!
In the years following 2008, charities as well as not-for-profits throughout the UK endured one of the worst periods of economic downturn the country has ever seen. If you made it through the difficult times of the last 8 years, you're most likely to make it through BREXIT as well.
2. Speak With Existing Funders
If you are mid-way through fundraising for a capital undertaking, speak with your present funders now. If they have committed already it is because they have confidence in your project and will be understanding of your predicament - some may even increase their grant offer to cover a possible deficiency. fundraising feasibility study
Facing the problem head on and giving a short review of how you intend to mitigate against a possible funding deficiency - seeking additional funders, scaling or phasing a project and so on - will certainly be perceived favorably by both existing and potential benefactors alike, creating confidence in your organisation.
If you require advice concerning your growth plans or fundraising difficulties, don't hesitate to call one of our Directors for an informal chat.