Third sector organisations are facing increased financial pressures heightened as demand for services maintains its sharp incline and reductions in government funding continue, according to new research.
Cash flow pressures, recruitment difficulties and uncertainty linked to Northern Ireland’s political situation are significantly impacting on the third sector’s ability to deliver key services, a new report reveals.
The latest Ulster Bank and CO3 3rd Sector Index is out today and it suggests that Northern Ireland’s third sector will shrink over the next three years.
The index shows that most third sector leaders (57%) expect the sector to shrink over the next three years, as funding and other pressures continue to impact on it. Continue reading
- 75% say austerity biggest threat
- But 65% concerned about Brexit impact on organisation’s sustainability
- 86% say politicians not doing enough re Brexit
- Majority believe NI economy will deteriorate
Two deficits of two very different kinds hit the headlines over the last two weeks, the budget deficit and the current account deficit. The former is shrinking slower than was planned, the latter is widening. Together they imply that the UK is increasingly reliant on foreigners to fund our standard of living. Maintaining the outside world’s confidence is therefore crucial for the stability of the UK economy. Continue reading