If you’re running a business in Perth, chances are you’re doing it tough.
Perth property prices have been falling due to a sharp slowdown in WA’s population growth; median rents have plummeted to historical lows; and unemployment in the state hit 6.5% in March – lower than its almost 15-year peak of 6.9% in November but above the national average of 5.9% – as the number of jobseekers reached a near 25-year high.
While the corporate sector is feeling the pinch of a wavering local economy, the not-for-profit (NFP) sector – heavily reliant on the generosity of corporates for their livelihood – is doing it even tougher.
With government funding hard to come by, these organisations only exist due to public and corporate support. If that support is withdrawn, through fewer individual or business donations as consumers and businesses alike tighten the purse strings, the impact can be severe.
NFPs still need growth. They still have boards to answer to; they still have community services to provide; they still have wages to pay.
It’s perhaps not surprising then that many NFPs are becoming more sophisticated in the techniques they’re using to raise funds.