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Top CIC income tips

It's tough working out how you're going to fund all your amazing ideas! 

In the beginning £10k grants seem like a ton of money, until the reality of budgeting leaks all of that money out in a flash. 

I know you have so much you want to do and you want and need to pay yourself for all this work you're going to be doing. 

So I've pulled together a few tips to give you a nudge in the right direction. 

  1. Grant funding... but you already know this one! I will just say though. Do lots of research and ask other cic's how they get funding as there may be some pots you don't know about. 

  2. Run some paid workshops/training. Either get people to pay or if your group is disadvantaged you could ask another organisation they are working with to pay for it. Examples; a local youth club if you run your workshop their (standard pay £100), the local education authority if it's for kids homeschooled how have disabilities or learning differences, police will fund anything that is aimed at reducing crime, NSH or health trusts will fund workshops with people with mental health issues etc. 

  3. Sell stuff. Produce stuff to sell like, books, art work, upcycled furniture, food or event tickets. 

  4. Online membership or online course. Like what I do on this website (which is Wix btw). Once you develop your specialism why not have some training or coaching you could sell. You might be an expert to other professions in your field who want to learn something from you. This is great for recurring income. Some people may be happy to join a low membership just to support what you do. Like what big charities do ask for £2 a month and they just give a news letter a month.

  5. Affiliate marketing. Use your website and social media to promote another company's product or service and gain commission on any sales that come through you. For example I use Amazon affiliate links to sell art materials I use to the parents of kids who do my workshops. So it makes it simple for parents to buy what I used and I get a little commission from the deal! 

  6. Partner with other CIC's and offer to do a little work for them like a workshop, and get them to list you in their grant funding application. This gets you paid from other grants. I encourage all my members to network and support each other in this way. 

  7. Fundraiser campaigns. You don't have to do crowdfunded or kickstart. You can just set up a donation page on your website. That way you don't lose as much in fees. 

  8. Ask other businesses to donate or sponsor. Good thing to do near the end of the tax year when businesses want to get their tax bill down. 

I hope that's given you some ideas. 

My advice is do as many of those as possible. Diversifying your income streams is vital to becoming sustainable. I see CIC's struggling or waiting around for funding. You need to be moving all the time. Keeping up the income keeps up the momentum. 

Kexx 🫶🏼

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