Sector 'must try to preserve its values'

Malcolm Hayday, chief executive of Charity Bank, has warned that the third sector must preserve its values and resist the pressure to be more like business.

Speaking at Monday's Charity Law Conference, run by the Directory of Social Change and law firm Bates, Wells & Braithwaite, Hayday said: "There's nothing wrong with wanting to make money to make voluntary sector organisations more sustainable. But we have to ensure we don't work in short-term cycles - charity is about creating long-term added value."

Hayday added that beneficiaries should not lose out "because the latest business wheeze went wrong".

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