Income Generation FAQsQ: What does the Income Generation team do?A: There are two elements to the team’s work. We manage the Income Generation workstream of the Capacitybuilders funded National Support Services and provide a Commissioning and Procurement Support Service for our members. Q: What are the National Support Services? A: The Income Generation workstream is one of nine thematic National Support Services funded by Capacitybuilders, which aim to increase the capacity and capability of third sector infrastructure by providing training, events and resources. You can find out more by clicking here. Q: Who will benefit from the training and resources on offer?A: The training and resources are largely aimed at development workers from support providers, such as voluntary actions, Councils for Voluntary Services and thematic and specialist infrastructure organisations. However, some of the courses and materials will also be relevant to frontline organisations.
Q: I want to book a place on your training course, how do I do it?
A: All of our training, events and resources can be found on the Improving Support website or our events and courses pages. Q: My organisation has always received funding from the local authority, why should I develop additional income streams?A: Diversifying your income streams is sound financial management. Relying on one income stream leaves your organisations open to financial risk. If your primary income stream is withdrawn or significantly reduced it could jeopardise the future of your organisation. By developing several income streams you spread that risk. Developing an additional income stream by trading a product, for example, allows organisations to generate unrestricted income, which can be reinvested to increase capacity and ultimately create a financial independent and sustainable organisation. Q: I want to diversify our income streams but I don’t know where to start. Do you have any suggestions?A: There are many ways in which third sector organisations can diversify their income streams, such as trading and enterprise, delivering a public service, securing grants and loans, fundraising or generating income from an asset (e.g. property or land). It is important to seek sound advice before you commit to developing an income stream. You should be able to get advice for most of your income generation ideas from your local Council for Voluntary Service or Voluntary Action. Q: How do I include an appropriate amount of overhead costs when costing a project or service?A: You can use a cost allocation method that is explained in the Full Cost Recovery Publication, or you can download a free copy of the Full Cost Recovery Toolkit that will help you to calculate your full project costs (including your overheads). For a multiple project costing tool you can also purchase the Full Cost Business Planner from ACEVO. For specialist income generation advice, visit: Download information about all the Income Generation projects. 
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