Back in June 2020, Mark Phillips wrote a study on what fundraising in 2021 might look like? As we head towards an easing of lockdown 3, now seems like a good time to reflect on Mark’s wise words to help us through the rest of the year.
When Mark was writing thus, there obviously was still an element of flux – we don’t know what we don’t know. What he did do, was cover three areas with the knowledge of what had happened during precious periods of upset and upheavals.
- The economy
Whichever country you happen to fundraise in, you need to accept that we will be moving into a global recession. The Bank of England has recently released its projections for this year. They demonstrate that we can expect a decline as deep as anything we’ve seen in 300 years.
- Social changes
There is a significant amount of quantitative research that shows the pandemic and subsequent lockdown has caused a dramatic shift in what we want and what we value as a society.
- Available wealth
Many people report that with little to spend money on, they are paying off debts and building up savings. It is estimated that in the UK, the wealthiest 20% of households will have reduced their spending by £23 billion in three months of lockdown.
Find out more valuable insights here: https://www.linkedin.com/pulse/fundraising-2021-what-might-we-expect-mark-phillips