Turnaround success
Ian Oakley-Smith's step-by-step guide to organisational survival in tough times
The dramatic movement in the UK economy in the last 12 to 18 months will undoubtedly have raised concerns among many boards of trustees up and down the country as to the ongoing viability of their charity. Trustees will be well aware that most charities are far from immune to the possible consequences of the so-called ‘credit crunch’ and the resulting effect upon economic activity; while these consequences will of course vary widely depending upon the circumstances of each individual charity, many trustees should be prepared to address the likelihood both of increased costs and of falling income in the current environment. For some, this will mean a tightened belt, while for others the effects may be more severe.
Author: Ian Oakley-Smith
Ian Oakley-Smith is director of business recovery services and a member the charities team at PriceWaterhouse Coopers LLP.
He is a chartered accountant and licensed insolvency practitioner, specialising in the non-profit sector.
Ian is also a member of the ICAEW charities SIG committee.
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