The recession has affected us all and the charity sector
has definitely felt the squeeze. Philip Hall of RBS discusses the
EFG scheme as a possible funding solution.
The Charity Commission's latest economic survey of
charities, published in March 2009, showed that just over half of
the respondents have been affected by the recession, with 30%
suffering from a reduction in income. One third of charities have
put measures in place to combat the effects of the recession,
ranging from additional fundraising to cutting costs*.
For all organisations, including charities, when working capital
becomes – or may become – tight, it's more
important than ever to engage with your bank. Despite popular
belief, there is funding out there for viable charities: it's a
case of making the most of your bank, finding out what funding is
accessible for you and ensuring that you can demonstrate that
borrowings can be repaid.
