In these unprecedented times when COVID-19 continues to spread and to impact almost every individual, business, startups and organizations across the world directly or indirectly, non-profit organizations or non-government organizations are also deeply affected now and, in the times, to come. As it is not yet clear what the current pandemic situation holds in future, it is important to balance the scale between panic and carelessness. Preparedness is key.
Here are some pointers on managing your Business / NGO after the COVID-19
Search for funding opportunities:
If you are working, look for funding opportunities locally and globally. There are many such opportunities available now and the list is growing every day. For example, www.hafug.org/blog, Corporate Social Responsibility from Companies, Look for such opportunities in your country and region and see if you are eligible.
Prepare for financial implications:
Prepare for the financial implications by creating a plan for managing the unavoidable fixed costs, managing cash flow, delaying the expenditures that may be delayed and basically getting into lean management mode.
Comply with agreed reporting and use time for donor stewardship:
Make sure you are on top of things around funder reporting and financial accountabilities. This will make sure you receive your upcoming donation tranches in time. Check with the funders if they are adjusting any reporting requirements or are suspending them to support the NGOs.
Share your challenges and actively seek support:
Speak to your funders about the challenges your NGO is facing due to the current situation or if any particular program is suffering. Bring the points to the table with honesty and figure out the solutions together.
Figure out finances and budget:
To ensure your projects and programs stay on track, you might need to up your fundraising efforts and to dig into your reserves. This is the ‘rainy day’ all of us prepare for. It may not be ideal but might be needed in these times.
Co-learn with peers globally:
This challenging time presents a great opportunity to learn and grow together as non-profit professionals. All across the world, people are exchanging ideas, learning to come together and try new things, sharing experiences and lessons.
There will be unavoidable and unprecedented impact of this pandemic worldwide. But the solution is to ‘flatten the curve’ of the negative impact for your Business / NGO by being proactive in your overall approach, by managing the situation at hand and in the end, trusting that the whole world is in this together. The situation is full of chaos, but at the same time it is a great opportunity for the development sector- to show that we are there for what we stand for- social care, support and development.
In the times of Covid-19, here are some do’s and don’ts for your Business / NGO / Startup:
Also Read: Other Opportunities to Apply