INFORMATION
Businesses urged to not shun charities during Covid-19 crisis
Charities are facing a £4bn funding shortfall because of the coronavirus pandemic. Experts believe nearly 80% of
Britain’s 169,000 registered goodwill causes are at risk of closure, with most of the fundraising activity on hold, events cancelled, and charity shops closed, leading to a stark drop in overall donations. Philip Webb, founder and Managing Director of East Midlands-based Investors in Community, one of the UK’s leading online giving platforms, has urged firms to not completely close their CSR schemes.
Discussing the challenges ahead,
he said: “Lots of charities are at risk of not being able to continue. “Despite many high-profile names establishing emergency funds or community support schemes, more must be done to help those in need. “It’s estimated that many small-
scale charitable organisations have around three months’ cash reserves, leaving little or no spare capital to fall back on in the event of short-term cash flow problems or a reduction in public and business giving. “As a platform that connects businesses and charities, we also
How to be more CSR-savvy
For businesses looking to withstand the current downturn, knowing the best and most cost- effective route to take can be challenging. Here, Philip Webb, of Investors in Community, outlines how organisations can use the time created by lockdown to refocus their CSR efforts:
GO BEYOND THE PRODUCT Consumer demand drives the market and despite the world enduring a global pandemic, businesses need to stay ahead of the game when it comes to buying trends. In fact, before the Covid-19 outbreak, research from Unilever found
that a third of consumers are now choosing to buy brands based on their social or environmental impact, emphasising the importance of philanthropic practice.
AVOID SUPERFICIAL MESSAGING Several household brands have fallen short when it comes to CSR and suffered consequences. Businesses have come under increased pressure to clearly demonstrate an obvious commitment to CSR activity and act in a socially, economically and environmentally responsible manner. Those caught attempting to ‘greenwash’ with gimmicky messaging
are all too often called out by savvy consumers. Good ethical practice must be clearly demonstrated at every level of the supply chain. Increasingly, brands are looking to work with likeminded organisations, committed to a similar ethos.
ATTRACT AND RETAIN A TALENTED WORKFORCE Culture, diversity, environmental awareness, and a clear alignment of the business leaders’ priorities with their own increasingly drive job seekers, resulting in CSR gaining momentum over recent years as a powerful recruitment tool. With businesses being held accountable to deliver on promises
beyond the bottom line, it is now more important than ever to track CSR activity. By doing this, organisations can build brand equity and increase
transparency without stretching marketing budgets or using additional resource.
business network June/July 2020 69
know just how much charities rely on the support of companies in terms of fundraising, volunteer hours and donations. “Many of these businesses are
worried about surviving themselves right now, so a lot of CSR activity has been put on hold. “However, it’s vital that these
partnerships are maintained wherever possible.” As Covid-19 continues to cause immense disruption to public life, many charities are noticing a surge in demand, with the most vulnerable becoming increasingly reliant upon their services, combined with a significant drop in overall donations, leading to potentially devastating consequences. In fact, a number of national charities are issuing warnings, with the Government launching a £750m emergency boost for charities and local councils announcing a range of local initiatives to help prevent the charity sector becoming completely overwhelmed and compensate for some of this lost revenue.
Philip Webb, founding director of Investors in Community
Philip continued: “At Investors in
Community, we want to do whatever we can to help these charities maintain some form of income stream. Our platform is always completely free of charge for charities, but during such unprecedented times we have taken the unanimous decision to waive all fees for businesses too. “We hope this will go some way
to helping firms identify urgent charity projects and help those in need wherever they can.”
Designed to link volunteers, businesses and charities, Investors in Community is the only online giving platform designed to ensure 100% of public donations remain within the charity sector. Find out more at
www.investorsincommunity.org
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