Coping With Your EU Financing Worries After Brexit

After the referendum in June, a number of charities have been looking for our counsel about the effect of the decision to leave the EU. Additionally, some organisations have found their projects positioned in very uncertain situations, with applications to funds like the ERDF (European Regional Development Fund) pending and no strong or dependable support from the Government or regional LEPs as to whether the funding streams will still come to fruition. Whilst at this stage no one knows with certainty exactly what the impact will be, we 'd suggest that charities faced with the challenge of an unknown result from European funding comply with these vital steps:1. Don't Panic!In the years following 2008, charities and not-for-profits throughout the UK survived one of the worst times of economic crisis the nation has ever seen. If you made it through the tough times of the previous eight years, you are highly likely to make it through BREXIT too. 2. Speak With Existing Funders If you are mid-way through fundraising for a capital undertaking, communicate with your current funders now. If they have actually committed already it is since they believe in your undertaking and will certainly be understanding of your situation - some could even raise their grant offer to cover a possible shortfall. 3. MitigateFacing the issue head on and providing a short evaluation of how you intend to mitigate against a potential financing deficiency - looking for additional funders, scaling or phasing a project and so on - will be perceived favorably by both existing and potential contributors alike, generating confidence in your organisation. If you need advice regarding your development plans or fundraising challenges, don't hesitate to speak to one of our Directors for an informal conversation. Go here for much more information fundraising.