Handling Your EU Funding Expectations After BREXIT

Handling Your EU Funding Expectations After BREXIT

Following the vote in June, quite a few charities have been looking for our advice about the effect of the decision to leave the EU. In addition, some organisations have found their projects placed in very unpredictable scenarios, with applications to funds like the ERDF (European Regional Development Fund) pending and no firm or reliable support from the Government or regional LEPs regarding whether the financing streams will still come to fruition.

Whilst at this phase nobody knows with assurance exactly what the impact will be, we would certainly recommend that charities confronted with the challenge of an unknown outcome from European funding follow these crucial 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 periods of economic downturn the nation has ever seen. If you made it through the tough times of the previous 8 years, you're highly likely to make it through BREXIT too.

2. Communicate with current funders

If you are mid-way through fundraising for a capital project, communicate with your present funders now. In case they have actually committed already it is simply because they have confidence in your undertaking and will certainly be understanding of your position - some could even raise their grant offer to cover a possible deficiency.

3. Mitigate

Dealing with the issue directly and providing a brief evaluation of how you plan to mitigate against a possible funding shortage - looking for other funders, scaling or phasing an undertaking and so on - will certainly be viewed positively by both present and potential contributors alike, generating confidence in your organisation.

In case you need guidance regarding your growth plans or fundraising review (great site) challenges, feel free to speak to one of our Directors for a casual chat.

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