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By coming together, there is, perhaps, an immediate pain in business where there are some jobs lost but eventually it ends up being a stronger company that can achieve and employ more and contribute more.
I would encourage those in the third sector to think about areas where it makes sense to consolidate or merge.
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Ms Foulger told the audience: We have lots of third sector organisations in Bermuda.
In the same way that we have seen consolidations going on in the insurance industry, there is never a perfect overlap, but there is a degree.
Our confidence in achieving this is based on our track record.
During the past 10 years our commercial income has doubled and we have raised nearly £60m in donated income.
She encouraged members to focus on their core mission in the current climate. Over time, companies, and I am sure your organisations are the same, start to get some mission creep.
You start off doing one sort of thing for your clients and then you morph into doing other things.
Charities have been urged to consider the short-term pain of consolidation or mergers as they battle for survival in Bermudas harsh economy.