Preserving Capital Reserves in a Time of Crisis
A snapshot of options for 3rd Sector organizations, previously considering a new office location or refurbishment of their existing space.
Charities Right Now Face an Almost Impossible Challenge, Assessing How and What to Prioritize.
For most of them it was always tough, but in April 2020 the issues are almost overwhelming.
When literally ‘everything’ is a priority, the only way to distinguish in what order they’ve to be tackled is to split them into two simple lists:
Many factors are common to both of course; mobile phones, IT connection, regular access to funding, to name the most obvious.
Can Mainstream Business Learn from Charities?
‘Making do’, being creative is endemic in the culture and character of 3rd Sector organisations.
It is somewhat ironic that right now the wider business community is having to re-learn these same skills, that charities have spent years perfecting.
Indeed, their very survival has depended on it.
There is simply no such thing as too much information where money is concerned, and time constraints are never self-imposed or artificial.
Things only happen when they absolutely have to.
What Are We Suggesting?
Constructive Space are acutely aware that what we offer; fit outs, refurbishment services etc are going to be near if not ‘at’ the bottom of the Functional list for many organisations and for quite a while.
All we can do (are doing) is present the information and options, as clearly and comprehensively as we are able. Hopefully helping Not-For-Profits make informed decisions and plan accordingly.
That said, we’ve come to understand that many have to reluctantly confront these very issues, ‘lockdown or no’ and as soon as is practicable.
OPTION 1: STAY PUT AND DO NOTHING FOR THE MOMENT
No one wants to make critical decisions in a time of uncertainty and the current crisis is about as uncertain as it gets.
If you can put this issue off, along with its’ inevitable costs, then do so. Even if that means dispensing with the idea of an office altogether and just working from home for now.
OPTION 2: MOVE INTO SHORT-TERM HOTEL STYLE OFFICE SPACE
We are not talking Regus or Workspace here, though most are open to discussions when it comes to the Charities community.
There are other equally outstanding organisations however, who specialise in helping the smaller NFPs. Among them:
If you are location dependent, then your local authorities may have information. Failing that drop us a line and we’d be happy to do some of the legwork on your behalf… and no, we don’t charge for that.
OPTION 3: FOR THOSE OF US THAT HAVE TO DO SOMETHING
For those who simply don’t have a choice, it boils down to simple economics:
- Can we still afford to move/refurb?
- Can we just lease the entire deal?
Constructive Space have been offering free costing and space planning services to Charities since the beginning.
It’s part of our commitment to the wider NFP community, although it started as a professional favour to some long-time associates.
So just assessing the feasibility of a given property isn’t going to cost you anything other than time.
Leasing and other Financial Options
Now, due dramatic changes in the (applicable) interest rate and fundamental policy changes in ‘what’ can be included in any financing agreement, we can also offer the entire program on a monthly operational cost. This means no capital outlay at all. No two situations are the same of course and each case is assessed on its own merits, but the option is now available.
If you are interested in exploring that route further, please take a look at the image below.
GET IN TOUCH: We’re here to help you assess your options
ACCOUNT DIRECTOR: firstname.lastname@example.org