Sponsorship can be an important source of income for Clubs, Societies & Projects. These training pages look at how to go about getting sponsorship and other forms of external funding, and the Union’s rules for how that funding must be administered.
When to seek sponsorship
The best time to get sponsorship is before the start of the Autumn term. Most companies will have spent the majority of their allocated sponsorship funds by Christmas.
Competition for sponsorship is high and companies have less money available due to the economic climate.
If you have any questions not answered in this training, contact the Deputy President (Finance & Services) or Student Activities Manager.
How to seek sponsorship
Before you agree any sponsorship deal you must contact the Deputy President (Finance & Services) with the details of the proposed agreement. They will guide you through drawing up the sponsorship contract.
We recommend following the steps below:
|Identification||Identify what benefits you can offer in exchange for the sponsorship such as enhancing the image of the company, creating good relations with students and being associated with a good cause.|
|Selection||Start by looking at who has sponsored your group in the past and who sponsors similar groups. Then make a list of the most likely sponsors.|
|Proposition||Next you need to formulate a proposal – this should include what activity will the sponsorship support, what you intend to do with the sponsorship money and what benefits you are offering the sponsor in return. Please be very precise in the wording of the proposal to avoid any misunderstandings. Remember - you are not allowed to commit to any agreement that extends beyond the end of current financial year (i.e. beyond 31 July).|
|While you might get a straight yes or no from some of the companies you approach, others may wish to negotiate the terms. Be prepared for this and have some ideas on how you could make the proposal more attractive or if you would be prepared to accept a lower sponsorship amount.|
|Signing and payment||Once you have reached an agreement with your sponsor, you will need to draw up a contract – get in touch with the Deputy President (Finance & Services) for assistance with drawing up the contract. Once the contract has been signed by both parties you should raise a sales invoice to the sponsor. Be prepared to chase the sponsor for the money.|
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