Right after the referendum in June, a number of charities have been looking for our advice about the impact of the decision to leave the EU. Additionally, some organisations have found their projects positioned in very unpredictable situations, with application submissions to funds like the ERDF (European Regional Development Fund) pending and no strong or consistent guidance from the Government or regional LEPs as to whether the funding streams will still come to fruition.
Whilst at this stage nobody knows with certainty exactly what the effect will be, we ‘d recommend that charities confronted with the challenge of an unknown outcome from European funding follow these crucial steps:
In the years after 2008, charities as well as not-for-profits throughout the UK made it through one of the worst times of economic downturn the country has ever seen. If you managed to get through the difficult times of the last eight years, you are very likely to make it through BREXIT too. Go here for extra info fundraising professionals.
If you are mid-way through fundraising for a capital project, communicate with your current funders now. If they have actually committed already it is simply because they have confidence in your undertaking and will be understanding of your situation – some could even raise their grant offer to cover a possible deficiency.
Dealing with the issue directly and giving a brief review of how you plan to mitigate against a potential financing deficiency – seeking additional funders, scaling or phasing a project etc. – will certainly be viewed positively by both current and potential contributors alike, generating confidence in your organisation.
In case you require guidance about your growth plans or fundraising challenges, don’t hesitate to contact one of our Directors for an informal chat.