How Brexit will impact your fundraising
Data points from the UK200Group show that U.K. charities can expect to lose 217 million British pounds (about $296 million) every year, once Britain separates from EU, according to Britain Stronger in Europe.
In this article by the Economic Times, various charities contributed to the outcry of the unknown however many did not lose momentum to continue to strive for the greater cause. “Save the Children is a global movement, focused on helping the most vulnerable and marginalised children in the UK and around the world. The British government has a proud history of supporting international development and we will continue to work closely with them to uphold the interests of every last child, wherever they are.”
So how is the decision of Brexit predicted to impact your fundraising? At a time when we need to be collaborating across borders to ensure that all hands are working together, it appears as if this challenging situation will make the opportunity for increased efficiency, funding and sustainable partnerships more difficult.
A recent article published by Charity Digital News suggests that If the UK does enter a period of economic decline, charities and funders alike will need to look at innovative solutions to curb the effects of an economic downturn.
It will all come back to innovation and trust, says Givergy’s Managing Director, Tim Stansbury. In this vulnerable period its imperative that charities steer clear of opportunities with unproven results, and look to tried and tested methods.
The 2014 State of the Not-For-Profit Industry (SONI) report stated that not-profits used online giving as a key donation channel, with roughly 81% of responding organizations accepting online donations. Online giving continues to grow in importance. More than half of survey respondents reported an increase in online giving as a proportion of overall individual giving in the past 12 months.
With over 6 years of experience demonstrating the power that technology can play in fundraising, Givergy recommend turning to the power of online fundraising methods. The power that online fundraising can offer eliminates borders. It is not only the flexibility to work with donors all over the world to raise money but it also provides increased exposure of the charity and their cause to a greater audience, comments Lisa Vecchio, Head of Marketing at Givergy.
With the pound dropping, many question the likelihood that both every day and high-net worth donors will abandon their charitable involvement. With tax implications to the UK still unconfirmed, what we do know is that we need to make it as easy as possible for anyone to give, from anywhere and online fundraising helps to facilitate that.
Take Givergy.com for example, a global platform where charities can auction off money-cant-buy items and experiences to the greater public. While the items for auction are provided exclusively by UK charities at this time, the audience of bidders is a varied mix of individuals from the UK, Europe, and the US predominately. This is just one example of how to get creative with resources you already have such us utilizing your celebrity ambassador to generate funds in a simple and trusted way without limiting your reach to just the UK.
“I think in the short term certain charities may see an increase in their demand for services due to the level of rise in hate crime and ethic divide.
Long term is a bit trickier to understand at this time. As future investments in the UK are still uncertain it’s hard to say how trust funds and investments may effect charities income. We can only wait and see how donations and income are affected. It’s really uncertain times for everyone including the third sector – but rest assured the public are still behind the amazing work that thousands of charities do across the UK and we can expect, at least in the short term, for it to stay that way, says Luke Cameron – Head of the Nicest Job in Britain.
With Givergy’s global headquarters in the UK, its more important than ever that we feel our charity partners have both the support and tools to continue to make gains for their incredible causes. In the last 12 months alone Givergy have raised 25M for over 1200 causes around the world and look forward to partnering with charities of all sizes to continue to make a positive impact on their fundraising goals.
Chief Revenue Officer (CRO) - Givergy
Tim joined Givergy in 2010, overseeing the early stage growth of the business to 50 employees across five international regions, supporting over 4,000 events worldwide. With a passion for leadership, business growth and exceptional standards, Tim is at the heart of all clients needs both in the UK and worldwide.