Following the vote in June, quite a few charities have actually been looking for our advice about the impact of the decision to leave the EU. Furthermore, some enterprises have found their projects positioned in extremely unpredictable situations, with applications to funds like the ERDF (European Regional Development Fund) pending and no solid or reliable guidance from the Government or regional LEPs regarding whether or not the funding streams will still come to fruition. Go here for extra info Gifted Philanthropy.
Whilst at this stage nobody knows with assurance what the effect will be, we 'd recommend that non profit organizations confronted with the challenge of an unknown outcome from European funding follow these essential steps:
1. Do Not Panic!
In the years following 2008, charities and not-for-profits throughout the UK made it through one of the most awful times of recession the country has ever seen. In case you managed to get through the difficult times of the last eight years, you are most likely to make it through BREXIT as well.
2. Talk With Existing Funders
If you're mid-way through fundraising for a capital undertaking, communicate with your present funders now. In case they have actually committed already it is because they believe in your project and will certainly be understanding of your position - some could even increase their grant offer to cover a possible deficiency.
Dealing with the problem directly and giving a short review of how you plan to mitigate against a possible funding deficit - seeking additional funders, scaling or phasing an undertaking and so on - will certainly be viewed positively by both existing and potential contributors alike, generating confidence in your organisation.
If you require advice concerning your growth plans or fundraising difficulties, do not hesitate to call one of our Directors for an informal chat. prospect research uk