Following the vote in June, various charities have actually been looking for our counsel regarding the effect of the decision to leave the EU. In addition, some organisations have found their initiatives positioned in very uncertain scenarios, with applications to funds such as the ERDF (European Regional Development Fund) pending and no firm or consistent 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 exactly what the effect will be, we 'd suggest that charities faced with the difficulty 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 worst times of economic crisis the country has ever seen. If you made it through the tough times of the last eight years, you are very likely to make it through BREXIT too.
2. Talk With Current Funders
If you are mid-way through fundraising for a big undertaking, speak with your present funders now. If they have committed already it is since they have confidence in your project and will be understanding of your predicament - some may even raise their funding offer to cover a potential deficiency.
3. Mitigate
Dealing with the issue directly and giving a short evaluation of how you intend to mitigate against a potential financing shortage - looking for other funders, scaling or phasing a project etc. - will certainly be viewed favorably by both present and potential donors alike, generating confidence in your organisation.
If you need advice regarding your growth plans or fundraising challenges, don't hesitate to get in touch with one of our Directors for an informal conversation. You will discover 100's of sites with tips having to do with 'prospect research' this is one of the better sites heritage lottery funding.