JGP News

Those working in the charity sector could be on track to receive greater financial guidance, it has emerged.

The news comes as the recently launched Charity Bank in the North is set to offer voluntary organisations and charities a range of financial products, for instance loans and seed-corn equity, reports the Third Sector.

In addition, the bank is to offer various support services, such as planning and concept proofing, in an attempt to help such bodies adopt a more business-like approach, which in turn could help charities to make best use of their sustainable efficiencies.

Malcolm Hayday, chief executive of Charity Bank, said: "Many organisations still rely on grant funding or gift giving, but they need to consider a more strategic approach that embraces funding and finance if they want to ensure their futures."

"Our mission is not just to help community groups become more sustainable, but to transform the financial landscape of the sector," Mr Hayday also claimed.

He added that by implementing a more "diverse approach to funding" and improving charities’ organisational structure, both individual bodies and the sector as a whole can become increasingly independent.

Meanwhile, proposals from Capacitybuilders to increase its funding for the third sector have been recently welcomed by the National Council for Voluntary Organisations.

More about sustainable efficiencies.