NCVO estimates that charities will lose at least £4bn in income during a 12-week period.
An Institute of Fundraising (IoF) survey found that 52% of charities have already reduced existing or previous levels of service. A further 12% intend to reduce their services. 43% of charities predict an increase in demand for their services.
44% of charities are already experiencing issues with cashflow according to the IoF survey, with a further 46% expecting to experience this in the near future. Almost half (45%) are unable to cover their payroll, and a third unable to pay their bills, rent, and mortgage. Furthermore, about one quarter (24%) hold no reserves.