What is the Cost of Giving Crisis? | VS Group

The UK’s cost of living crisis is continuing to impact households and businesses across the country. According to a recent government report, UK consumer prices were 3.4% higher in February 2024 than a year prior.

But for charities who give so much, this is more than a cost of living crisis – it’s a cost of giving crisis.

We break down how this might impact your charity and recommend ways to save money below.

What is the cost of giving crisis?

A cost of living crisis arises from higher inflation, which pushes prices of all goods and services up. As costs increase, funding for charities falls, even whilst demand for the vital work of charities rises.

It’s this that leads to a cost of giving crisis – a term coined by the National Council for Voluntary Organisations. Charities around the UK are having to be more financially sensible than ever before, so that they can continue to provide critical work for the people and communities they support.

How can charities save money during the cost of giving crisis?

Strategic partnerships and collaborations

Sharing resources via strategic partnerships and/or collaborations with other charities, governmental organisations, or willing businesses is a great way to reduce costs.

You’ll be optimising operations without incurring additional expenditure – plus, you may even increase your charity’s reach and reputation in the process.

Volunteer initiatives

Volunteers can fill the gaps where paid personnel don’t have capacity. Recruit, train and upskill volunteers as a cost-saving strategy – you’ll also be fostering a greater sense of community in the process.

Innovative fundraising strategies

Events and direct mail campaigns have their advantages, but if your charity can explore alternative fundraising or revenue strategies, you’ll see the benefits.

Peer-to-peer fundraising and social media campaigns are all ways to fundraise – and you can also explore funding options via grants, corporate partnerships or even merchandise sales.

Streamline your communications strategy

A cost of giving crisis doesn’t mean your charity has to sacrifice essential telecoms or connectivity services. A streamlined technology and communications practice can improve your efficiency without straining your budget.

VS Group has been working with charities to do exactly that, helping our wide portfolio to save an average 30% compared to their current technology spend. That allows you to divert funds towards the people and communities you serve, so your charity can deliver its vital work through the cost of giving crisis.

We’re a one-stop shop that will ensure your charity benefits from all the telephony services you need – and none you don’t.

Steer your charity through the cost of giving crisis with VS Group

From VoIP for charities through to ensuring you’ve got the most affordable broadband service, VS Group can help your charity save money during the cost of giving crisis, without undercutting your services.

Use our online contact form today to get in touch, or email us at customerservice@vsgcomms.com to find out more.

FOLLOW US

Other articles you might enjoy:

Running a Charity: A Beginner’s Guide | VS Group

Running a Charity: A Beginner’s Guide | VS Group

Running a charity is no easy job – but it’s highly rewarding if you do it right. Before running a charity, you’ll need to establish your organisation’s eligibility for charitable status. Once you’ve done that, you can get the ball rolling to establish and run your...

read more
Is VPS Worth It? | VS Group

Is VPS Worth It? | VS Group

A VPS (virtual private server) is a virtual space dedicated to your business’s website. It provides a private, virtualised server space where you can run software, process data, store files and more, which is owned by a third-party web- or cloud-based platform. Is a...

read more
Are VoIP Phone Systems Good for Schools? | VS Group

Are VoIP Phone Systems Good for Schools? | VS Group

Over the past few years, the education sector has increasingly shifted towards a VoIP phone system. There are a number of factors driving the migration of schools from traditional landlines to more modern VoIP systems. From data compliant safeguarding and security...

read more
Is SOGEA Faster Than FTTC? | VS Group

Is SOGEA Faster Than FTTC? | VS Group

Speed and efficiency take precedence in the realm of broadband connectivity, especially for organisations seeking to optimise their online operations. Two popular connectivity solutions are Fibre-To-The-Cabinet (FTTC) and Single Order Generic Ethernet Access (SOGEA)...

read more