Bates Wells is launching a free tool today for charities, social enterprises and other non-profit entities facing financial difficulty and unsure of the next steps to take.
Decision Tool, developed following consultation with NCVO on the sector’s needs, gives organisations detailed guidance and information on issues including insolvency advice and mechanisms, mergers, collaborations, cost cutting, raising finance, and other relevant content.
Users need to answer up to six questions to receive a tailored report on the options.
Bates Wells has developed the tool in response to the challenges faced by the sector as a result of Covid-19. It launches today at NCVO’s webinar Decision-making in a crisis: collaboration and merger and is available on the Bates Wells website.
Philip Kirkpatrick, Head of Charity and Social Enterprise at Bates Wells, who led on development of the tool, commented:
“Charities and social enterprises are facing a reduction in income just when they are needed most. We have seen a dramatic increase in the number of calls to our sector helpline. Many organisations will have to make difficult decisions in the coming months and we have developed this tool to guide them. We hope it’s a resource that many find helpful in these challenging times.”
Josie Hinton, Capacity-building Programmes Manager at NCVO, added:
“The launch of this free tool is timely. We know that the coming months are going to be extremely challenging for voluntary organisations. Many organisations will need to consider all options, from cost cutting, collaboration to merger, to ensure the continuation of their services. This practical tool offers a step by step approach to help them consider their options.”
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