After the vote in June, a number of charities have been seeking our counsel concerning the impact of the decision to leave the EU. Additionally, some organisations have found their projects positioned in extremely unpredictable scenarios, with applications to funds such as the ERDF (European Regional Development Fund) pending and no firm or dependable guidance from the Government or regional LEPs regarding whether the financing streams will still come to fruition. Whilst at this stage no one knows with confidence what the impact will be, we 'd suggest that non profit organisations faced with the challenge of an unknown outcome from European funding comply with these crucial steps:
1. Do Not Panic!In the years following 2008, charities as well as not-for-profits throughout the UK endured one of the worst periods of recession the country has ever seen. If you made it through the difficult times of the previous 8 years, you are highly likely to make it through BREXIT as well. fundraising staff is a website that has lots of up to date information regarding prospective research.
2. Speak With Current Funders. If you are mid-way through fundraising for a big undertaking, talk with your present funders now. If they have committed already it is simply because they believe in your project and will be understanding of your position - some may even increase their grant offer to cover a potential deficiency.
3. Mitigate.Dealing with the problem directly and giving a short evaluation of precisely how you plan to mitigate against a potential financing deficiency - looking for other funders, scaling or phasing a project and so on - will be viewed positively by both existing and potential contributors alike, creating confidence in your organisation. In case you need advice about your development strategies or fundraising difficulties, feel free to get in touch with one of our Directors for a casual conversation.