BVSC has just announced that it is making available free advice and support on financial resilience for the city’s smaller charities and social enterprises that have been hit hard by the coronavirus crisis. It is targeting organisations with a turnover below £100,000 a year.
‘We are aware,’ says BVSC, ‘that the Covid-19 crisis has created a significant financial challenge for the voluntary and community sector in the city and that in many cases individual support is the best way to address this. This support is intended for organisations that identify themselves as being adversely financially effected by the Covid-19 crisis, in a way that may result in closure or very significant financial losses. The support will be provided by a finance specialist with an in-depth understanding of finances within charities and social enterprises.’
Organisations most at-risk, BVSC says, are small organisations and especially:
- Those reliant on income generated by hiring out physical space.
- Social enterprises reliant on trading income that has ceased due to Covid-19.
- Those reliant on small donations and direct fundraising by the public.