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Charities: embracing change is a good route to survival

Almost one in five UK charities are struggling to survive in the face of financial pressures and growing demand for their services, rising to over one quarter of smaller charities. Around one third have had to reduce staff numbers, or are set to do so.These figures, from a recent survey of charity chief executives*, show that business as usual is no longer an option for many charities. The old ways of doing things may not be the best response to the financial and management demands of 2018.For trustees looking for innovative ways to take a charity forward, there are various options available.

Learn from the private sector

In social care, and also other sectors, charities may be unaccustomed to using commercial approaches when negotiating contracts with councils or NHS trusts. But getting to grips with mechanisms such as adding break clauses, warranties or indemnities in contracts – all common in the commercial world – could provide more financial security.View the rest here.

© Law Exchange International 2020

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