Your business can gain a wealth of opportunities by participating in charitable causes. The most obvious reason is as a tax deduction. There are far greater benefits than just lower taxes. Here are some of the reasons for your business to support charities.
Help to Define Your Identity
Select a charity that supports a cause that you feel strongly about on a personal level. If you are struggling to find a charity, let your employees help you. Consider having your employees choose a charity that they thinks represents the company. Do a little research and make sure that your contributions will make the most impact. This could be a local charity or even a larger organization. Choosing a smaller charity that benefits those in your community will have the most impact. Companies that donate to charities are viewed as being more ethical and trustworthy by their customers. Setting your company up as a supporter of charitable causes can improve your image. Charitable giving is the cornerstone of a good society. Link your company to these charities to define your identity.
Improved Public Relations
By having your business name paired with a good charity, you are presenting an image of benevolence. This works very strongly in your favor when being considered for awards. This will get your name out there in a positive way. A good example of how this benefited one company is with Dallin Larsen, Monavie founder. He spearheaded the MORE Project. With this charitable endeavor, he was able to grow his business very quickly. The key to his success was through improved public relations. His company was perceived as caring about the community and was willing to help those in need. This type of giving may be more than your business can afford. It is a good goal to strive to obtain. You can share your contribution stories with potential customers and the public to increase awareness of your business.
Opportunity for Team Building
Employees are more likely to stay with a company that participates in charitable causes. They feel better about what the company is doing for the community. Consider volunteering as a company at a local charity. This can be a good opportunity for your employees to work together outside of the workplace. In many cases, this can lead to improved communication between your employees. They are learning about each other in a non-work setting. This is a good opportunity to build your team’s morale. They may even be working with people that they don’t have much interaction with in the workplace. This can improve interdepartmental communication. It can also make an employee feel good about working for your company. This is especially true if you are volunteering alongside them.
Maybe you want to involve other businesses in your charitable cause. The more companies that are involved, the greater benefit for the charity. This provides you with an opportunity to network. It can help to expand your client base. You may even get some media coverage about your charitable cause. This allows your name to be associated with giving. More customers will recognize your name. You might even be able to post pictures of your company at these volunteering activities. This can increase your online presence. Many charities will post the names of their sponsors in newsletters and online. Other people that also believe in what the charity is doing will see your name. This increases your opportunity to connect with these people. There are endless networking opportunities when you choose to participate in charitable causes in your community.
Supporting charities can give your business an advantage over your competitors. Consider these benefits for your company when deciding to participate in charitable causes.