A new report By Dr Ben Evans, compiled by Nottingham Business School, and the VCSE Observatory, explores how the Autumn 2024 budget has introduced two major changes affecting many voluntary, community, social enterprise and faith sector (VCSEF) organisations and groups. These referring to increases in Employer National Insurance Contributions (ERNICs) and the National Living Wage (NLW).
Findings from the Observatory's ninth wave of their quarterly Barometer report reveal how these policy changes are impacting the sector amidst rising costs, funding pressures, and financial uncertainty.
The findings reveal that while the effects are prevalent, they are not balanced. Organisations with a paid workforce, a cohort comprised mostly of medium and large organisations, feel this impact the most. Around half of large organisations expect to make significant changes to staffing, overheads and how they deliver services, compared to fewer than one in ten small organisations.
This report explores these trends, detailing the impact of policy changes, uncertainty in funding streams, and the actions organisations expect to take to shore up their financial position in an uncertain and changing landscape.
Click
HERE to download the report.