NABS closes Cost of Living Grant days after launch due to unprecedented demand for help
Industry charity receives one and a half times as many enquiries for Cost of Living Grant in 36 hours than its other financial support grants have received so far this year
Other NABS Grants on pause while the team deals with the huge amount of enquiries
‘Help with paying utilities bills’ main reason for Cost of Living Grant applications
NABS, the advertising, media and marketing industry’s charity, has had to close applications for its Cost of Living Grant just days after its launch due to overwhelming demand.
The Cost of Living Grant was launched on 1 November to give eligible applicants a one-off payment of £1,000 to help with essential living costs during the current economic crisis. Applications were originally scheduled to be open until the end of February 2023.
NABS budgeted for the Cost of Living Grant based on the applications it usually receives, with an increase to reflect this winter’s tough industry and societal conditions. However, the Grant received one and a half times the amount of enquiries in 36 hours than those received for NABS’ Support and Upskilling Grants during the 11 months of 2022 so far.
NABS has also placed applications for its Support and Upskilling Grants on pause while it processes enquiries for the Cost of Living Grant.
Demographic splits for Cost of Living Grant applications are as follows:
- 34% men, 66% women
- 88% London-based, with remaining 12% based across NW England, Scotland and SE England
The top reason for requiring help is paying for utility bills, with other themes being help towards rent/mortgage and putting food on the table.
NABS continues to offer many other services to support people through this challenging time. This includes a new financial wellbeing page on its website, offering tools and guidance on money management, alongside resources to support mental wellness such as coaching, Masterclasses and therapy to provide a sense of control in what is a volatile time.
NABS will use the insight it has gained from launching the Cost of Living Grant to inform its offer for 2023 and how it can continue to support the industry.
Sue Todd, CEO, NABS, says:
“We know at NABS that people’s mental and financial wellness are interlinked. Our additional services, including our Advice Line, therapy referral and broader financial wellbeing support, all help to advance mental wellness alongside the support offered by our Grants.
“As we face what is forecast to be a potentially challenging year ahead, the need for all of our support services will increase. As a charity, we rely on donations to provide those services. It’s our industry’s collective responsibility to support our colleagues and teams, so there’s never been a more vital time to give to NABS.”
NABS has lost £1.75m in income since the pandemic, while experiencing a 23% rise in demand for its services.
For more information, contact Louise Scodie email@example.com.