According to the latest figures, there are approximately 166,000 charities in the UK, with 132,000 of those in England. In the past ten years, 5,000 new charities have been registered each year, however a similar number merge or close down.
The charity sector is made up of organisations of varying sizes, just like in business. Very large charities, with an annual income of over £1m, account for 8% of the sector. However, more than 80% of charities have an income of less than £100,000 and approximately half of the total number of charities have an income of less than £10,000 a year.
Charities are an important part of the UK’s economy, contributing over £12bn a year, the same amount as the agricultural sector. Charities have a total annual income of nearly £44bn, and employ 827,000 people.
It’s no surprise then, that the charity sector is strictly regulated with specific rules and guidelines that every charity must adhere to. If you’re considering starting a charity, then read on for our simple 10-point guide.