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Weekly Short
4 February, 2021
The past year has been full of (mostly unpleasant) surprises. Just one is that, as the national economy has shrunk, the UK has become a nation of savers. Savings rates hit a record high in 2020, with Brits squirreling away an average of 29% of their disposable income.
For some, forced into job uncertainty, saving has been a necessity. For others, it’s been a (sometimes welcome) by-product of limited spending opportunities. But despite this lack of opportunities for splashing our cash, many of our charities are in dire straits, with up to one in ten facing bankruptcy. The cancellation of major fundraising events, such as the Royal British Legion’s annual poppy appeal, or the London Marathon, has made it harder for charities to raise much-needed revenue. And with so many of us working from home, corporate fundraising efforts require more thought too.
It’s not all doom and gloom. Whilst the rest of us were in our pyjamas watching Bridgerton, Eddie Izzard used January 2021 to complete a gruelling 31 marathons and 31 stand-up shows in 31 days, raising over £300,000 for charities to “make humanity great again” (with some help from our friends at Crowdfunder).
Covid-19 doesn’t need to stop the drumbeat of fundraising that keeps our charities going. And there’s never been a better time for businesses to get involved. Stay-at-home pub quizzes, team cycle challenges (like the one we did at Good Business in September) or offering to match individual fundraising efforts all help to make employees feel united and positive about their workplace and each other – which is more important than ever when we’re not in the office – as well as providing charities with much-needed funds. Now that’s a win all round.
By Sarah Howden