Friday, 10 July 2020

Charities fear for existence

MORE than half of charities in the Thames Valley fear for their future as a result of the coronavirus crisis.

Fifty-five per cent said they felt under threat according to a survey carried by law firm Blandy & Blandy, which has an office in Henley.

Seventy-two per cent said their income had dropped in the past three months.

Three-quarters said that they had placed up to half of their staff on furlough and 17 per cent had furloughed more than three quarters of their employees.

Seventy-five per cent did not feel that the Government had done enough to support the charity sector.

The charities’ number one concern was their beneficiaries followed by their own financial position.

Nick Burrows, of Blandy & Blandy: “We have seen an increase in enquiries from charities as a result of the pandemic, with clients keen to explore and understand their options as they look to protect their future viability given often substantially reduced incomes.

“We have also been advising them on the furloughing of their staff, incorporation of their charities to give trustees protection and in relation to the potential insolvency of charities.”

More than 100 local and national charities took part in the survey.

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