Tuesday, 9 October 2018

Dealing With All Of Your EU Financing Expectation Post Brexit

After the vote in June, various charities have been looking for our counsel about the impact of the decision to leave the EU. In addition, some organisations have found their initiatives positioned in extremely uncertain scenarios, with applications to monetary funds like the ERDF (European Regional Development Fund) pending and no firm or consistent support from the Government or regional LEPs as to whether or not the financing streams will still come to fruition.
Whilst at this phase no one knows with confidence what the impact will be, we would certainly recommend that non profit organizations confronted with the challenge of an unknown result from European funding comply with these crucial steps:

1. Don't Panic!

In the years after 2008, charities as well as not-for-profits throughout the UK endured one of the most awful periods of economic downturn the country has ever seen. In case you managed to get through the challenging times of the previous 8 years, you're most likely to make it through BREXIT too.

2. Talk With Current Funders

If you're mid-way through fundraising for a big undertaking, speak with your current funders now. In case they have actually committed already it's simply because they believe in your project and will certainly be understanding of your position - some could even raise their grant offer to cover a potential shortfall. There's a lot of charity consultancy internet sites throughout the uk, if you are searching to find out more or possibly asking prices this blog is a great starting point for www.giftedphilanthropy.com.

3. Mitigate

Facing the issue directly and providing a short evaluation of how you intend to mitigate against a potential funding deficit - seeking other funders, scaling or phasing an undertaking and so on - will certainly be perceived positively by both present and potential contributors alike, creating confidence in your organisation.
If you require advice concerning your growth plans or fundraising challenges, feel free to speak to one of our Directors for an informal chat.

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