JGP News
A snapshot of some of our most recent work and an insight into some of our ideas on the hot topics and issues that affect the public and not for profit sectors, and how we are responding to them.
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Charities ”need to keep on top of finances”
The economic crisis means that it is more important than ever for charities to keep on top of their financial management.
Writing in an article for ThirdSector.co.uk, Danny Davis - insolvency specialist at Mishcon de Reya - states that as the downturn is likely to get worse before it gets better, those working in the third sector may well find they "face some tough decisions".
Indeed, he suggests that the difficulties they experience could be so grave they may have to consider whether it is viable for them to keep operating.
"Charities have to be on top of their finances at all times, but especially during a recession. Financial management must be disciplined, clear and realistic," he states, in news that could interest those looking to boost their skills framework during tough times.
However, should they be concerned that they will face long term money management problems, senior management officials should seek guidance on how to proceed as soon as possible, not only for the future of the organisation itself but also staff members.
Earlier this month, the Cass Business School reported that by outsourcing their back-office functions, mid-sized charities could save a total of £136 million.
More skills framework information.
