Handling Any European Union Funding Expectations After BREXIT
Right after the referendum in June, quite a few charities have actually been looking for our advice concerning the impact of the decision to leave the EU. In addition, some enterprises have found their projects positioned in extremely unpredictable situations, with applications to monetary funds such as the ERDF (European Regional Development Fund) pending and no strong or reliable support from the Government or regional LEPs as to whether the funding streams will still come to fruition. Whilst at this phase nobody knows with confidence exactly what the effect will be, we 'd recommend that non profit organisations faced with the challenge of an unknown outcome from European funding comply with these vital steps:1. Don't Panic!In the years after 2008, charities and not-for-profits across the UK endured one of the most awful times of recession the country has ever seen. If you managed to get through the difficult times of the last 8 years, you're highly likely to make it through BREXIT too. 2. Speak With Current Funders If you're mid-way through fundraising for a big undertaking, speak with your current funders now. If they have committed already it is simply because they believe in your undertaking and will be understanding of your position - some could even raise their funding offer to cover a potential shortfall. Go here for much more information www.giftedphilanthropy.com.3. Mitigate Dealing with the problem directly and providing a short evaluation of how you intend to mitigate against a possible financing shortage - looking for additional funders, scaling or phasing a project etc. - will certainly be viewed positively by both current and potential contributors alike, generating confidence in your organisation. If you require guidance regarding your development strategies or fundraising challenges, do not hesitate to get in touch with one of our Directors for a casual conversation.