Purpose alone won’t sustain your organisation - financial resilience is what turns impact into long-term success.
Funding The Future: Financial Models Strengthen Purpose Led Businesses Webinar
Purpose alone won’t sustain your organisation - financial resilience is what turns impact into long-term success.
This webinar brings insight on how to model your community-driven organisation for financial success.
Jen Ayres is an experienced accountant and finance coach, supporting not-for-profits and CICs as well as SMEs. She currently manages a south-west based international retail and eCommerce business whilst also sharing her knowledge and experience to help business owners develop strong financial understanding and build robust financial plans for long-term success.
This webinar also covers case studies from the co-operative and social enterprise sector, including Anfield Bakery and Greenwich Leisure Limited (GLL).
Watch the full webinar below, meanwhile here are some key takeaways for financial resilience.
Fundamentals of finance in “impact” organisations
Balancing “doing business” with impact goals – the term “impact economy” is growing in use to describe how organisations are capitalising community benefit over private gain.
Financial resilience is the “bottom line” of a purpose-led business – along with long-term goals, strong mission, culture and the ability to adapt to changing funding and trading environments.
A firm handle on financial sustainability enables your missions as an organisation is protected over the long term.
Challenges and considerations
Balancing the operational requirements of different funding bodies, depending on your structure.
Funding overhead costs – where grant funding tends to prioritise tangible projects over core costs, consider how you will fuel business as usual.
Funding an adequate reserves policy – consider how you will build a buffer to support cashflow in leaner times.
Models for success
Hybrid business models – Building diversity of income streams will support financial sustainability.
Cost-first approach to financial planning – an introduction to an overview of financial modelling for purpose-led organisations.
Understanding margins – retail margins are usually tight, so understanding your margins is important for building sustainability. Factor in costs such as VAT, corporation tax (relevant to CICs) staffing and marketing.
The bigger picture – what does the medium to long-term look like? What activities would you like to carry out to deliver your mission? What do you need to achieve this – staff, resources, tools?