Charities beware – commercial ventures can both make and lose money

I have written numerous items about the demise of the 50-plus venture that Age Concern established – Heyday.

The marketing press were quick to pick-up on the story but it has taken some time before it has hit the mainstream media. That happened in yesterday’s Observer.

I quote:

One of Britain's largest charities is facing a full-scale investigation into how it 'lost' up to £16m invested in it by setting up a company to harness 'grey power' that failed to attract enough members or make any money.

The leaders of Age Concern, a charity that represents 11 million older people across the UK, have been told by their regional members that there must be an external inquiry over the financial situation of its new membership organisation, Heyday.

The core question that any investigation must answer is this: “Was it a daft idea to create Heyday or was it a good idea badly mismanaged”?.

When the head of Age Concern addresses its members he better know the answer. Dick Stroud