Is it good for business to support charities?

Thumbtack Employee
Thumbtack Employee
5 2 979

 

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You can build brand awareness.

People like to reward companies that care — but they have to know that you exist first. Charities rely on the media to get the word out about their mission (and their fundraising events). If your small business has donated to those efforts, the media is likely to mention you in their coverage. You can get your business’s name out there and build its reputation for helping the community at the same time.

People like supporting businesses that help others.

In fact, millennials are especially receptive to cause marketing and expect companies to care about making a difference. Some companies build their brand by running a “buy one, give one” program. Like TOMS: for every pair you buy, TOMS gives a pair to someone in need.

Now, as a small business owner, this model probably isn’t right for you. But there are plenty of ways to give back. You can donate to a local school, volunteer to build homes, sponsor a sports youth team, participate in a charity auction… the list goes on. Remember, when a customer supports a business that helps others, they feel like they’ve done some good themselves. So it never hurts to mention your charitable efforts in your profile.

Employees feel good when their companies give back.

A 2017 Deloitte study linked volunteering in the workplace to a better atmosphere and a boost in employee morale. Employees can feel proud to work for a business that does good. Plus, company-sponsored volunteer time means employees get to feel good about themselves — without needing to sacrifice important time with family and friends. And when your employees feel happy, they feel motivated, which means they do better work.

You can save money on taxes.

Ok. So it’s not the best idea to donate money just so you get a tax write-off. But it’s true that there can be financial benefits as long as you donate to the right charity — usually a 501(c)(3). Check here to see how to pick the right charity and qualify for a deduction.

You can network with people — and help the community at the same time.

Networking is essential to building your business, but let’s face it — it isn’t always easy and sometimes feels pretty transactional. Supporting a charity can take some of the pressure off, while still being a meaningful use of your time.

All kinds of people like to give back. Local politicians, other business owners, even new customers. You can connect and build trust with people who believe in the same causes, not to mention build deeper ties with your community. And you can feel good about the fact that the help you give will have a positive impact on others.

2 responses
soloedman
Level 5

Absolutely not.  Just because it sounds good, that doesn't mean it is good.    If you want/wish to do something good, do it by yourself (not through 2nd or 3rd party).  What if the charity is does not exercise/hold your values? In this phenomenon, there are a lot of unwanted drama and politics.

tiacn
Level 4

My company is a give back business.  Contact me  at r500acnrep.com  bobby rendon 317-628-5489  I’m looking for partners. Help me feed these kids in need