If you have a cause that you are passionate about then you might want to think about starting your own charity. This can be a brilliant way to make a positive change to the world, increase awareness and raise money all at the same time. There are many perks to starting your own charity but it is not an easy operation to get up and running. Here are a few key considerations.
Establishing Goals
The first step to take is to establish what the goals are for your charity. This will depend entirely on the type of charity that you are starting but these goals need to be clear so that you can develop a strategy.
Market Research
As with a business, it is important that you carry out market research to see what the landscape is and if there are any other similar charities. In a business world, these would be your competitors but in this sphere you need to make sure that you are not diverting funds away from a charity with similar goals to your own.
Funding
It is likely that you will require some form of funding to get the charity up and running so that you can start to make a difference straight away. Places like Liberis are a good place to obtain funding for a charity and you should find that you can get approval quickly if you have all of your documentation in place.
Rules & Regulations
There are certain rules and regulations that you need to familiarize yourself with before starting work as a charity. Additionally, much like a new business, you must also decide on a charity structure and each has its own pros and cons. These include:
- Unincorporated associations
- Trusts
- Charitable companies
- Charitable incorporated organizations (CIOs)
There is then also a governing document that is similar to a business plan but sets out rules for you and your trustees.
Trustees & Registration
It is then a case of finding trustees for your charity – these are people who sit on the board and make sure that the goals are being fulfilled. You must have at least one trustee by law but it is recommended that you have at least 3. You can then register your charity with the Charity Commission and get to work making a positive difference.
Starting a charity is a noble cause but this is not the same as starting a new business and there are various challenges to overcome. These hurdles can be relatively easy to navigate, however, and you can then start making a positive change to the world.
