Permission to Start – Top 10 Tips

Posted: 07/09/2021, by:

Our founder Sarah Dowd talks to us today about Permission to Start. Did you just get your project approved by the National Lottery Heritage Fund? Check out this infographic we’ve put together for you!

Perimssion To Start Infographic

1. Read the guidance! 

2. Get your admin in order – keep a separate file and pull all your governance and legal documents into one place

3. Prep your solicitor – get them ready to move quickly and brief them on the process

4. Prep your trustees / get a board meeting booked depending on your governance

5. Get your match funding in place; drawdown where you can; recast your cashflow; consider setting up a separate bank account

6. If you have a match funding gap, consider value engineering or seeking a “guarantee” of support from organisations like the local authority

7. Consider if you will do anything “at risk”

8. Plan for it to take a lot longer than expected – minimum 3 mos; max 6 mos but could be longer if your match funding isn’t in place

9. Seek help for complicated PTS requests; consider asking the fund for a mentor / ROSS consultant

10. Keep talking to your Investment Manager – they can help move things along, particularly between legal departments!

 

If you’re still kind of nervous about it, why not reach out? We’re here for you.

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