Meg Heath Key Issues for the CDFI Sector in the UK
We need to change New challenges, we need to change the way we operate to survive and grow Be more flexible, more creative, more entrepreneurial Work more smartly as a sector and be able to react quicker to the changing environment Promote more effectively what we do and what we can do to government and other potential funders
Key Issues Funding/Income Capital, grants, interest earned Reduction in size of the sector Danger of mission drift Fragmented Sector Internally – lack of cohesion Externally – low level of awareness of sector Limited resources of individual CDFIs Affects development of strategy, new income streams etc
Key issues need to be addressed on a sector level and by individual CDFIs
As a Sector Share and co-operate Information, experience and skills Learn from others, in UK and across Europe Develop systems to improve efficiencies Find areas which are common to a number of CDFIs eg backroom activities; databases, loan management etc Develop a ‘useable’ form of social accounting Key to attracting funding from new sources Promote sector Branding - need to develop national, recognisable image
Individually Take a more commercial view of our organisations Identify which services can be self sustainable activities and those that requiring funding Imbed social accounting/assessment into our operations Increase transparency to attract funding Consider regional or national mergers, sub- contracting/formal partnerships economies of scale for backroom activities best use of skills and resources but maintain our individual approach
The biggest barrier?
Thank you Meg.Heath@befund.org
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