Charities feeling the pinch
A recent study by the Charity Finance Directors’ Group and accountancy firm PKF has revealed the economic instability hitting the sector as a result of the recession.
Many charities are having to access their reserves as their income streams are failing. Insecurity over funding is in many cases impacting on service delivery and many of the organisations questioned said that they had had to cut services, while almost half had been forced to make cost savings.
The results of this study and the general instability of the economic climate point to a shaky future for many organisations in the voluntary sector. The need for charities to plan their route through these hazardous waters and to diversify their income streams has never been more paramount.
Our consultants are always willing to discuss how we can help charities to access funding and to plan how they can continue to sustainably deliver services.
