Effects of Economy on Fundraising

Effects of Economy on Fundraising
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Global Recession and Fundraising

The recession which has been thrust upon us, has a few grey areas to it, and fundraising, which is considered as an aesthetic activity has become harder than before. The article discusses the effects of the economy on fundraising after the global recession. Though the general concept of fundraising has taken a beating in the aftermath of the recession, there are ways in which money can be raised for a noble cause.

The whole world has been hit rather badly by the economic recession. Millions of people have lost their jobs and millions cannot sleep with the morbid fear of losing their jobs. All in all, the fear of losing jobs has led to protests, depression and mental trauma.

This has made it difficult for institutes and individuals to raise money for fundraising. Churches, business groups and schools are themselves facing scarcity of money. As the money for various activities is being cut down, there is a need to raise money for various activities through fundraising.

Tips for Ensuring the Fundraising Endevour is Successful

This section of the article lists some tips that would ensure your fundraising endeavor is successful and pleasurable.

Tip Number One: Choose Fundraisers That Suit Your Community

Picking low priced funds will surely do the trick, especially if there is scarcity of money in the community. Moreover, if you raise money for activities through fundraisers, which hold value to the community, then you can be sure of a higher success rate. To ask for large sums of money at a time when everyone is struggling to pay bills, is not a good idea. Instead asking everyone to contribute whatever they can towards the fundraising will boost the success rate. The fundraisers that offer value and those that do not cost much, can be used in times of recession.

Tip Number Two: Motivation Of The Team Is Vital

Team members are likely to get de-motivated especially after being rejected by people. This will have long term repercussions from failing to ask people for money to approaching people confidently. If a team member gets de-motivated, chances are that he/she may not approach people, which will eventually lower the profit. You need to make sure that your team members are willing to work hard. The best way to this is to let them know of the rejections beforehand, so that they can be well-prepared and better deal with them. Another way to deal with this problem is to create incentives or prizes for the person who has collected the largest profits.

Tip Number Three: Encourage Bonding

A fundraiser which encourages bonding would be much more successful than fundraisers for a noble cause. Pretzel fundraisers and cookie dough fundraisers offer inexpensive ways for families to bond together and share thoughts and ideas.

Tip Number Four: Offer Something Useful Via Fundraisers

Fundraising through selling products or services is a great idea. Christmas tree fundraisers, wrapping paper and magazine fundraisers can be very successful owing to the fact that people want to make use of these products.

Image Credit: Bill Whalen: Politi-Cal (https://whalen.wordpress.com/2010/01/)