Right after the vote in June, quite a few charities have actually been looking for our counsel concerning the effect of the decision to leave the EU. Additionally, some organisations have found their projects positioned in extremely unpredictable scenarios, with applications to funds including the ERDF (European Regional Development heritage lottery fund bid writers
) pending and no solid or dependable support from the Government or regional LEPs regarding whether the financing streams will still come to fruition.
Whilst at this stage not one person knows with assurance what the impact will be, we 'd suggest that non profit organizations faced with the challenge of an unknown result from European funding adhere to these essential steps:
1. Don't Panic!
In the years following 2008, charities and not-for-profits across the UK survived one of the worst periods of economic downturn the country has ever seen. If you managed to get through the challenging times of the previous 8 years, you are most likely to make it through BREXIT as well.
2. Communicate with existing funders
If you are mid-way through fundraising for a capital project, communicate with your current funders now. In case they have actually committed already it's since they have confidence in your project and will certainly be understanding of your situation - some might even raise their grant offer to cover a possible shortfall.
Dealing with the problem head on and providing a brief evaluation of how you plan to mitigate against a possible funding shortage - seeking additional funders, scaling or phasing a project etc. - will certainly be perceived positively by both current and potential contributors alike, creating confidence in your organisation.
If you need advice about your growth strategies or fundraising difficulties, do not hesitate to contact one of our Directors for a casual chat.