Managing Your EU Financing Expectations After BREXIT

Managing Your EU Financing Expectations After BREXIT

Right after the vote in June, quite a few charities have been seeking our guidance regarding the impact of the decision to leave the EU. In addition, some organisations have found their projects placed in extremely uncertain situations, with application submissions to monetary funds like the ERDF (European Regional Development Fund) pending and no strong or consistent support from the Government or regional LEPs regarding whether the funding streams will still come to fruition.

Whilst at this stage no one knows with certainty what the effect will be, we 'd suggest that charities faced with the difficulty of an unknown result from European funding comply with these vital steps:

1. Don't Panic!

In the years after 2008, charities as well as not-for-profits throughout the UK made it through one of the worst times of economic downturn the country has ever seen. In case you managed to get through the difficult times of the last eight years, you're most likely to make it through BREXIT also.

2. Communicate with existing funders

If you're mid-way through fundraising for a capital campaign managers (view website) undertaking, communicate with your present funders now. In case they have committed already it's since they have confidence in your undertaking and will be understanding of your situation - some might even raise their grant offer to cover a potential shortfall.

3. Mitigate

Facing the problem head on and providing a brief review of how you plan to mitigate against a potential financing deficit - looking for other funders, scaling or phasing a project etc. - will be perceived favorably by both existing and potential contributors alike, creating confidence in your organisation.

If you require guidance about your growth strategies or fundraising challenges, feel free to contact one of our Directors for a casual chat.