Why diversifying income can help your organisation to flourish

In challenging times, we need creative and innovative partnerships which build trust and support sustainable business growth. ConnectSport partner Altair Ltd is ideally positioned to help achieve this, says Director of Sport Emma Atkins (pictured below left).

I have worked in sport for development for almost 30 years and this is as challenging a time for community sport as I have ever seen.

The Covid-19 pandemic left many grassroots sport for development organisations running on empty. Add a cost-of-living crisis which has seen costs escalate for both providers and beneficiaries, and you can see why we need urgent and innovative solutions at scale.

The General Election has brought a government which long term appears committed to the preventative agenda, in which sport for development has a vital role to play. But in the wake of the Autumn Budget, many grassroots organisations and programme providers find themselves counting the cost of increased National Insurance Contributions and a rise in the Minimum Wage next April.

The imminent closure of National Citizen Service – which has benefitted hundreds of thousands of young people since its launch in 2011 – further increases the squeeze and right now, many sport for development providers could be forgiven for wondering where to go from here.

OPPORTUNITY

But in every crisis, as the old saying goes, there lies opportunity. Throughout 2024, as I have travelled the length and breadth of the UK meeting charities and organisations dedicated to serving their communities, I have found the current climate is accelerating a new and increased willingness for creative and collaborative ways of working, and a strong desire for more sustainable income models.

Thankfully Altair has an unrivalled track record of supporting socially-focused organisations across the housing, education and charitable sectors, and increasing sustainability by diversifying funding. Thanks to its recent acquisition of Oaks, that portfolio now extends to more than 70 sports and sport for development organisations.

We know the three Ps of sustainability are people, planet and profit. Goodwill and good luck will only get us so far in the face of the challenges that lie ahead; instead Altair works with its partners from strategy inception to implementation, and to helps to deliver a step-change for organisations that want to make the biggest impact.

Take the London FA. Over the last two years we have helped to develop its commercial strategy, and brought in new sponsors following a brand refresh and VIP event. For our partners, this isn’t just about matching them with fundraising opportunities, it’s about coaching and supporting them to become investment ready and empowering their in-house team for the long term.

Getting to the money is rarely an overnight fix. Is your charity ready for investment? Is your organisation structurally sound, and is its governance in order? Altair’s partners benefit from much more than solely fundraising from trusts and foundations; we believe in building a more sustainable and mixed range of income, from grants to corporate fundraising, to social investment.

It’s rewarding work for our team - look at the variety and impact of the organisations we helped to shortlist in the 2024 Sport for Change Award, co-ordinated by the Sports Journalists’ Association and sponsored by Altair. From community cohesion and mental wellbeing in Oldham and West Hull, to governing bodies coming together to address poor water quality and pollution, this is an amazing and vibrant sector and we are relishing the challenges and opportunities that it offers.

ENGAGE

Our work with the Scottish Football Partnership Trust over the last six months included a networking event at Hampden Park (pictured below) to build engagement with a wider base of potential investors and stakeholders - raising profile is so important when you’re looking to persuade corporate sponsors. But it is more than just a one-off evening; we provide support to senior executives and supported them to engage with potential funders.

Other partners are already quite mature in terms of sponsorship and corporate fundraising, so it’s about how we can help them take it to the next level.

Having personally attended so many events and talked with so many partners – new and old – over the last few months, it is evident there is an amazing opportunity for sport, and sport for development, to diversify its income base. Sport for development offers an exciting new way for the sports sector to prove its value to the health and wealth of the nation and, at Altair, we are supporting organisations on a whole new journey aligned to their strategies.

Pressure has been building on this sector for the reasons already outlined in this blog, and there is still so much vulnerability.

And against the backdrop we are witnessing, it is important our offer fits the bill, and is feasible and affordable. Altair has a range of packages to suit all needs, whether that’s bespoke support and a one-to-one approach, or working with multiple organisations who have fewer resources but still need our support.

So wherever you are on your income generation journey, get in touch – Altair is here to help.

To find out more, visit altairltd.co.uk or email emma.atkins@altairltd.co.uk