Report | kreston
PEM are proud to be part of Kreston Global, a network of independent accounting firms with a presence in over 120 countries worldwide. We are delighted to be able to share with you the Kreston Charities Report for 2023.
With Britain in the midst of a cost of living crisis and a bleak economic outlook, charities are feeling the pinch. Whether it’s a decrease in funding as donors grapple with their own soaring costs, an increase in demand or recruitment challenges, charities face an uncertain future. All of this comes not long after the monumental impact of the Covid-19 pandemic.
The Kreston UK Charity Group works with more than 2,000 charities of various sizes offering a range of services across the UK and this survey sheds important insight into the experiences of a wide range of charities across the UK.
In particular, the results demonstrate the impact that the cost of living crisis is having on the charity sector: A large majority of the charities surveyed have seen costs rise over the past 12 months due to soaring energy bills and inflation. Recruitment is also a real concern, with 64% of charities saying that it has become more challenging to both recruit and retain staff.
Elsewhere in the report, 82% of charities said their beneficiaries are more affected by mental health now than they were before the pandemic, and 72% have increased the provision of mental health support for staff/volunteers.
But there are more fundamental issues which the survey explores, including a lack of diversity, particularly at senior level. This is a major worry for the charities we surveyed, with 72% saying they are concerned about a lack of diversity among their Board of Trustees.
Charities are, on the whole, well equipped to deal with cyber security, and environmental issues are increasingly important, with half of the charities saying they are addressing climate concerns despite them not being part of their objectives.
Kreston Global member firm, Duncan & Toplis hosted a webinar on 22 March which looked at the insights derived from the newly released report, including financial matters, technology and cyber security concerns, as well as workplace considerations including diversity, recruitment, and pay.
To view the report, please click on the button below.