The move has been taken to encourage more small businesses to support charities as they tackle a drop in revenue caused by the coronavirus (Covid-19) outbreak.
Online fundraising platform Work for Good has axed its annual membership fees to offer additional support to the charity sector during the coronavirus crisis.
The platform works by allowing small businesses to link donations to their products or services.
In response to the pandemic and financial challenges facing charities, Work for Good has removed its yearly fees in a bid to boost donations via small businesses and encourage more fundraising link-ups between the private and charity sectors.
“Charitable income is being decimated by the coronavirus crisis,” Says Veronica Bamford-Deane, Managing Director of Work for Good.
“We’re urging charities to really champion and engage with any small businesses who are continuing to approach them and we’re here to help the reduced capacity of
the sector by helping them manage donations and steward small business
Work for Good launched in 2018. There are an estimated 5.7m small businesses in the UK and more than 200,000 registered charities. According to the platform if one in 20 small businesses donated just one per cent of their income, it would create £1bn in charitable funding every year.
Work for Good adds that currently just two per cent of charitable income comes from businesses compared to 43 per cent from individuals.
Charities need us! Thank you for helping where you can #smallbusinesses - we know it’s difficult for everyone. #smallbusiness #everydaycounts #fundraising #donations #WednesdayMotivation #charities t.co/XfvSx9BH85— Work for Good (@workforgooduk)
Voluntary sector bodies, the National Council for Voluntary Organisations (NCVO), ACEVO, Charity Finance Group and the Institute of Fundraising, estimate the coronavirus pandemic will cost the charity sector at least £4.3bn in lost income during the first 12 weeks of the lockdown, as events are cancelled and charity shops are forced to close.
The sector organisations say government action is needed, as charities look to keep up with increased demand amid this substantial funding drop.