Four ways Brexit is impacting the nonprofit sector in the UK
With the final results of the Brexit Referendum of 52% to leave the EU and 48% to stay, the majority of UK citizens have voted - albeit by a small margin - to leave the EU. A surprise to many, the result has lead to not only the resignation of Prime Minister David Cameron, but created a great deal of turmoil in the country, leading to massive speculation about the future. News articles abound on the impact of Brexit on the automotive industry, energy and climate change, investments , and technology . But what about philanthropy, or, as it’s commonly known in the UK, the third sector? After all, more than 732,000 people are employed in this industry by an estimated 162,000 organizations that spend approximately £38 billion annually on initiatives to assist people in need. 1. Economics and Funding for Philanthropy It’s no surprise that the initial reaction of the global markets was panic; financial institutions never cope well with change. Not only did the pound plun...