A new report from the University of Suffolk, commissioned by PolicyBee, has revealed only half of small charities are confident in identifying and tackling risk.
The report, entitled Under the radar: risk management in small charities, looks in depth at the risks faced by small charities, and how these risks are addressed and reduced.
Not surprisingly, income was highlighted as the biggest issue, with lack of funding a real concern – be it external funding, e.g. grants, or internal funding such as income streams. In fact, 70% of the 225 responses ticked loss of funding as an issue.
Trustees and volunteers were also viewed as a possible issue, with 62% identifying the recruitment of them as the next most significant external risk after money.
Risk management measures are often not apparent at all within the small charities – with one in ten ‘not sure’ if they have risk management measures in place, and 47% only ‘somewhat confident’ in their capacity to identify and assess risk. This shows a real concern about an organisation’s ability to manage and reduce risks before they turn into problems.
Following the report, the PolicyBee has launched a online Charity & Community Help Hub, with a focus on helping charities with fundraising, good governance, health & safety, GDPR and more.
To read the whole report, click here.