Charities are most concerned about ongoing pressures on funding and the impact of government changes heading into 2018, research from Ecclesiastical has found.
Continued pressure on funding is top of the list, according to Ecclesiastical, with 84% of the charities surveyed concerned or very concerned about this issue, followed by the impact of potential government changes at 72%.
Top 10 risks (charities who said they were concerned or very concerned):
- Funding 84%
- Impact of Government changes 72%
- Reputational risk 66%
- GDPR/data protection 65%
- Cyber/internet crime 63%
- Grant providers 62%
- Employer liability 53%
- Exposure to social media 51%
- Increased focus on governance 45%
- Impact of Brexit 44%
David Britton, charity director at Ecclesiastical, said:
“This is a time of transformation with charities becoming ever more innovative in their fundraising and exploring new models and ways to engage. This, coupled with new regulation and increasing threats such as cyber-crime, means that charities are facing and taking more risks than ever before.
“The important thing to remember is that good risk management and governance coupled with the right level of professional expertise can help charities to embrace new opportunities and mitigate the financial risks they are dealing with in a difficult and ever-changing economic climate.”
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