Sport England Enlists Grant Thornton

Sport England has partnered with business and financial adviser, Grant Thornton UK LLP, on an initiative to support the country’s grassroots sports clubs in managing their finances.

As part of the collaboration, Club Matters, Sport England’s free practical resource for sports clubs, has created and hosted two online workshops in conjunction with the firm.

‘Future Fitting Your Finances’ will provide key tips for managing a club’s main finance functions – including simple explanations of a Profit and Loss account, a Balance Sheet and Cash Flow – while also explaining how to identify clubs’ Tax status. A second video, ‘Tax and PAYE’, will offer vital advice for clubs who need to pay staff outside of a volunteer capacity, including how to manage a payroll.

The workshops form part of a new range of free, time-saving digital service available on the Club Matters website. As well as the workshops, resources on business planning, marketing and club structure are delivered through further channels including website resources, social media, podcasts, a monthly newsletter.

The site includes thorough advice on a range of issues, including how to secure additional funding, attract and retain members, and upskill administrators.

Tom Moon, head of sport at Grant Thornton UK LLP said: “Managing the day-to-day and future finances of your sports club can seem like a daunting task at times, especially if you’re a  volunteer with little previous experience in the world of finance.

“Tasks such as creating a budget, filing tax returns and even applying for funding are all achievable goals and we hope that these videos will prove to be a valuable tool for those looking to take on such responsibilities.”

Rosie Benson, head of clubs at Sport England, added: “Sports clubs who are successful in the long term are built on sustainable finances and we hope the latest videos go some way to de-mystifying some of the key financial processes that clubs often face.

“We know that running a sports club takes time, energy and dedication which is why our goal is to provide important information and advice to sports clubs in short and easy to digest formats that are free to access.

“We hope these videos add to our growing resource of tools on the Club Matters website, which has helped thousands of clubs so far.”