Following the vote in June, quite a few charities have been looking for our guidance concerning the impact of the decision to leave the EU. Furthermore, some organisations have found their initiatives placed in very uncertain situations, with application submissions to monetary funds like the ERDF (European Regional Development Fund) pending and no strong or reliable guidance from the Government or regional LEPs as to whether the funding streams will still come to fruition.
Whilst at this phase nobody knows with certainty what the effect will be, we would certainly suggest that non profit organizations faced with the difficulty of an unknown result from European funding comply with these vital steps:
1. Do Not Panic!
In the years following 2008, charities and not-for-profits across the UK made it through one of the most awful times of recession the nation has ever seen. In case you managed to get through the difficult times of the previous 8 years, you're highly likely to make it through BREXIT as well.
2. Communicate With Existing Funders
If you are mid-way through fundraising for a big project, speak with your present funders now. If they have actually committed already it's since they have confidence in your undertaking and will be understanding of your predicament - some could even increase their funding offer to cover a possible deficiency.
Facing the issue head on and giving a short review of precisely how you intend to mitigate against a possible funding deficiency - seeking other funders, scaling or phasing an undertaking etc. - will be viewed positively by both current and potential donors alike, generating confidence in your organisation.
If you need guidance about your growth plans or fundraising challenges, don't hesitate to call one of our Directors for a casual conversation. There are 100's of sites with help and advice associated with 'legacy consultant' that is certainly one of the best websites www.giftedphilanthropy.com.