Here's Why Your Business Should Support Local Charities
If you are a business owner, it is important that you consider your place in the wider community, and giving to charitable causes is a big part of that. Getting involved with charity benefits your business in a lot of different ways but many new business owners fail to see how important it is. They assume that it’s an extra cost that they don’t need to deal with right now so they put their priorities elsewhere. However, helping out charities will help your business to grow and move forward. These are some of the reasons why it’s important for businesses to get involved in charities.
It Builds Bridges With The Community
It is so important for businesses to build bridges with the local community and charity is one of the most effective ways to do this. Executive leaders like Joz Opdeweegh often speak of the importance of active engagement with charity work as a way to build bridges between ourselves and those in need. Although donating money is useful, planning events and helping to bring the community together is far more effective, and it helps to show the local community that your business is dedicated to them.
It Strengthens Your Brand
Building a strong brand is very important and consumers are increasingly interested in the ethics of business. Companies that are seen to be operating in an ethical way tend to do much better and many people won’t buy products from a company that they consider to be unethical. Things like environmental issues are very important to consumers, but people also like to see businesses that give something back and work with charities. That’s why putting on a charity fundraiser with a local organization is one of the best ways to strengthen your brand and show consumers that you are concerned with more than just money.
It Increases Your Reach
If you want to find new customers, you probably look at things like social media campaigns and pay-per-click ads but you should also consider some charity events and sponsorships. Putting on a local event will draw in a lot of people from the surrounding area and expose your business to potential customers that may not have heard of you otherwise. You can also expand your reach by sponsoring local charity causes, so your logo and business name appear on all of the marketing materials that they put out. If you want to expand your business to a national or even an international level, working with big charitable organizations is a brilliant way to do that.
It Boosts Employee Morale
Keeping up morale amongst your employees is so important if you want to boost productivity. There are a lot of things that can boost morale and it’s important that you consider the salary and benefits that you offer as well as the different ways that you recognize and reward hard work. However, employees also need to feel as though their work is worthwhile if they are going to be productive. In some businesses, the nature of their work is already rewarding but a lot of the time, employees feel as though they are just selling products and nothing more. But if they can see that the success of the business allows for more charitable work and directly helps people in need, they will be a lot more engaged with their work. Hosting events and getting your employees involved is also a great team-building opportunity, which is very important for productivity.
Tax Benefits
Businesses are always looking for ways to make their tax bill more manageable, and charitable donations are a good way to do that. Although the rules vary depending on the amount that is donated and the nature of the business, you can deduct up to 50% of your charitable donations. You can also claim expenses for travel costs associated with your charitable activities as well. Even though the tax benefits are not the main reason for donating to charity and you should do it for the right reasons, it’s worth considering some of the savings that you could make, especially when you are just starting out and you need to be careful with your finances.
If you want to build a strong brand identity and reach more customers, all while boosting employee morale and making some savings on your tax bill, you should definitely consider working with a charity. There are so many charities out there that need your support and your business will benefit, so why not set up a partnership?
