Demand for Third Sector Services Rises Despite Funding Pressures
The Quarter Two results of the Third Sector Index were launched on Monday 4 July 2016. Published by Ulster Bank & CO3, the survey reveals that there was been an increase in demand for third sector services despite funding pressures.
Findings from the Ulster Bank & CO3 3rd Sector Index included;
- 29 percent have experienced a decrease in government funding, with just 12 percent securing an increase.
- 13 percent have secured an increase in public donations in the last quarter. However, it should be noted that 19 percent have seen a decrease in donations from the public.
- The number of employees in the sector has remained constant for most third sector organisations over the past quarter (59 percent). However, 23 percent have increased their headcount while 18 percent experienced a reduction in employee number. This comes at a time when 65 percent of third sector organisations report an increase in demand for their services.
- The majority (74 percent) describe their cash flow situation as stable, while around one quarter (24 percent) are vulnerable to cash flow issues at this current time. An additional 2 percent report that they are unsure.
- One in five (20 percent) report that their cash flow situation has worsened since last quarter.
- Most third sector leaders are aware of the draft Programme for Government Framework Based on what they have seen so far, there is broad agreement with framework approach.
- Although the Social Value Act is not applicable in Northern Ireland at present, there is high support for its implementation in the region, with 81 percent confirming that they think that Northern Ireland should introduce the act.
- The outlook for the next twelve months has improved compared to Q1 2016.
- Just under half (46 percent) believe that political stability in Northern Ireland will improve. This is an increase from 27 percent in Q1 2016.
- On balance, expectations for the NI economy are that it will worsen. However, the percentage saying this has decreased from 50 percent in Q1 2016 to 37 percent this quarter.