Charities expect increased demand for support and increased overheads
UK charities are on a firm financial foundation despite the challenges of COVID and increased demand for their services, a survey from Kreston reports. They are, however, expecting significant increases in demand for support and services together with increased overheads.
The survey of charities across the UK found:
- 95% of charities believe they have been financially resilient during the pandemic
- Almost 80% of the charities are happy with their current reserves levels
- 65% expect income to increase over the next 12 months from current levels
- Over 70% are expecting an increase in demand for their services
- 57% have been providing more services online
- 53% have accessed the Coronavirus Job Retention Scheme
- 18% have used the Coronavirus Community Support Fund
- 60% are considering flexible working going forward
The survey, published in the report on 19 July also found that almost all (97%) are confident in their financial ability to survey the next 12 months.
Susan Robinson, Partner and Head of Charities and Not for Profit said: “Charities, like many businesses, have felt the brunt of the Covid pandemic at a time when demand for their services and support has never been greater. This survey paints an encouraging picture of resilience and preparedness for what will continue to be a challenging period.
The survey points to some interesting trends in how charities will operate in a post-Covid world with 70% of charities looking to adopt a hybrid approach trustee meetings with a mix of face-to-face and online meetings, and with almost two thirds (60%) adopting hybrid working practices for staff.
Susan adds: “Despite the obvious savings these approaches can offer, 60% of the charities surveyed expect their operation costs to increase. 70% of charities expect to see an increase in demand for the services and support they offer, meaning management teams will need to keep a close eye on the numbers. Funding challenges are also expected as we move into 2022.
“Charities need to plan for both and pay particular attention to staffing requirements. We are increasingly seeing charities collaborate and share costs and can see that becoming ever more popular over the next 12-24 months.”
Download the report
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