Wouldn’t it be great to have a crystal ball right now? Planning ahead and for longterm sustainability has never been more crucial – or more difficult. I’ve been talking to people in both the public and private sectors about what organisations can do and it’s encouraging. Despite the uncertainty, there’s plenty of reason to be optimistic.
The good news is funding will be available – especially for those organisations who have a compelling case for investment and can clearly demonstrate they’re meeting a need.
Plenty of government funds are offering immediate help to get you through. Keep your ears open for these, but don’t stop there. To be truly sustainable, it’s vital to take a diverse approach that broadens your funding streams.
Covid-19 is likely to exacerbate the decline in gaming funding availability. If you’ve been slow to step back your reliance on these funds, then now is the time to move quickly. If you are going to apply to gaming trusts, remember competition will be fierce. Target your applications where there is real alignment – sending in lots of generic applications is unlikely to be successful.
Don’t be afraid to review your strategy and get creative. For instance, are there opportunities to collaborate in new ways to deliver on your vision? Look out for other organisations with shared values and complementary strengths.
Impact investment is one funding stream we expect will increase in this new environment. Have a look at those companies that have adapted fast to the new norm and recovering in an agile and expedient way. Identify businesses whose sense of purpose aligns with your own. Once again, a match in values is essential.
All funders will want to understand the impact their funds are making. You can help them by communicating regularly and effectively. Make your impact easy to understand and including numbers, measures, feedback and individual stories that showcase your work.
Don’t forget to make the most of your expertise when you’re planning. You know better than anyone how the Covid environment will impact your community and services. You’ll also know what they need most to recover and thrive. This is a great place to start when you look ahead.
If you’d like more insights on the future of funding, and some help making a plan, then check out our website for our latest thinking. Give us a call if you prefer to speak directly to our team. We’re here to support you in helping build vibrant communities we all love.
May 2020