After the vote in June, a number of charities have been looking for our guidance about the effect of the decision to leave the EU. Additionally, some enterprises have found their initiatives placed in extremely unpredictable situations, with application submissions to funds like the ERDF (European Regional Development Fund) pending and no solid or consistent support from the Government or regional LEPs regarding whether the funding streams will still come to fruition.
Whilst at this phase not one person knows with certainty exactly what the impact will be, we would certainly suggest that non profit organizations faced with the difficulty of an unknown result from European funding follow these key steps:
1. Do Not Panic!
In the years following 2008, charities as well as not-for-profits across the UK made it through one of the worst periods of recession the country has ever seen. If you made it through the difficult times of the last 8 years, you're most likely to make it through BREXIT also.
2. Talk With Current Funders
If you are mid-way through fundraising for a capital project, talk with your current funders now. In case they have actually committed already it's simply because they believe in your project and will be understanding of your situation - some may even raise their funding offer to cover a possible deficiency. prospect researcher is regarded as a site that is loaded with lots of up to date information about fundraising feasibility study.
Dealing with the problem directly and giving a short evaluation of how you plan to mitigate against a possible financing deficiency - seeking additional funders, scaling or phasing a project and so on - will certainly be perceived positively by both current and potential donors alike, creating confidence in your organisation.
In case you need guidance concerning your development strategies or fundraising difficulties, don't hesitate to get in touch with one of our Directors for a casual conversation.