During difficult economic times, it’s easy to justify the reduction or termination of corporate charity programs. It’s even easier for small businesses and new ventures to ignore the opportunity to incorporate charity into their cultures and overall business plans. It’s more important than ever to remind entrepreneurs of the significant benefits that are inherent in the act of giving.
Advantages for businesses, no matter how small the business may be, are realized immediately and in the future. Some of them include a positive public image, the ability to distinguish a business from competitors, and additional devotion from both consumers and employees.
How can you contribute?
Any amount that your company can give to a charitable cause can benefit your organization and the community. The sooner a program is fit into your mission, the better. Fiscal donations can be calculated by setting a per-sale rate or a percentage rate based on overall income.
You may also consider a product or service donation instead. A like-for-like contribution can be made whenever you make a sale. For example, whenever a t-shirt is sold, you might donate a shirt to a homeless person. You might also donate your product to be used in a fundraiser event, incorporating it into an auction or yard-sale.
Who receives the donation?
It’s important to carefully choose a charitable cause that will benefit the most amount people, including your business and employees. Here are a few questions you should ask yourself:
1. Does this organization help people who could use my product?
2. What charitable organization or cause has a similar mission?
3. What organization could promote your new partnership to the maximum amount of people?
As soon as you identify a possible candidate, check them out on a charity watch-dog website at http://www.charitywatch.com. The organization hosting the website rates charities to help people make informed giving decisions.
While a charitable cause could slightly increase expenditures for a small or starting business, the short term benefits related to public relations, and the long-term benefits connected to the a positive social image will far outweigh any initial costs.
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