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2016-03-07 00:00:00How To Run Your BusinessEnglishIt's important to give back, so why not get your team involved in the process and make charity a core foundation of your small business?https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2017/01/530054439.jpghttps://quickbooks.intuit.com/au/resources/how-to-run-your-business/business-involved-with-a-charity/How Your Business Can Be Involved with a Charity

How Your Business Can Be Involved with a Charity

2 min read

Becoming involved with a charity can have benefits for your business as well as the cause you support. It’s important to give back, so why not get your team involved in the process and make charity a core foundation of your small business?

The Benefits of Giving

People are more inclined to support businesses that they believe are part of their community and supportive of it. Charitable contributions can generate a lot of goodwill. According to one study, 85% of consumers think better of a business that supports a charity they care about.

Company morale may also get a boost. Giving and doing good fosters company-wide team spirit and goodwill.

Exposure is another advantage. Through your work with the charity you may enjoy positive publicity in local media and raise awareness of your business.

How to Choose Your Charity

Choosing a charity that you have some alignment with can be mutually beneficial. A food chain partnering with a homeless charity has obvious benefits, for example.

You can also support a single charity over the years or multiple causes. Having a single charity enables you to build deeper links with them, contribute to longer-term projects and share in their progress and achievements as time goes by.

But embracing a wider range of causes allows more diverse philanthropy and allows staff input into which charities you support. People are always more motivated by supporting a cause they’re passionate about.

It’s also possible to do both: you may have a permanent charity but also respond to emergency fundraising such as flood relief, or sponsor staff doing a challenge for charity. Brainstorm with your team about how they would like to offer their help. It will help to boost engagement if everyone is involved in the selection process.

Other Ways to Support a Cause

Direct monetary contributions, such as from your own profits, are an obvious and easy method to offer support, but they’re not the only option. Fundraising and donation drives can be a great way to get staff involved and help publicise the cause.

Professional expertise, such as legal and financial advice, is also very important for charities and non-profits. Investing in this can be expensive, so if your company offers a professional service that you can make available – anything from consulting to maintenance or tech support – this is a good option.

Time can also be very valuable. If the charity’s work is labour intensive, you may be able to offer staff time. Tree planting, building a playground, putting together donation boxes – all these are activities that most people can help out with.

Most legitimate charities should be registered with the ACNC, so always do your research to ensure you’re comfortable with how the charity will use your donations. Enjoy your giving – philanthropy is important to the community and it’s a great way for your business to contribute to a better world.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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