Challenges facing NFPs for 2020 and beyond
Actionable Strategies for NPOs to Survive and Thrive Long Term. In late March, uncertainty surrounding the crisis had peaked. Companies, large and small, were performing urgent scenario analysis of how long they could survive in a climate of severe physical restrictions. Businesses were making immediate decisions to close the doors and government supports were too ambiguous to count on. Estimates of the economic and employment impact on the non-profit sector projected losses of $15.6 billion in revenue and about 194,000 in jobs.
Roughly two months later, the Canadian economy is opening up and this provides hope. However, months into the crisis we still do not have certainty into how long distancing measures will ultimately last. The path to recovering from the underlying health crisis may look a lot like rolling blackouts – spikes in physical activity followed by slowdowns. We may expect economic activity to follow a similar pattern from here on.
Some non-profit organizations will be impacted less by physical distancing measures than others. Different business models mean different levels of exposure to the risks facing non-profits for the rest of 2020 and into 2021.
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