When you own a business, you are usually responsible for several employees. They depend on you for income and, in turn, provide the labour for your business to thrive. It’s great to take care of them, but other people need your help too.
There is no shortage of need out there and it can be hard to pick a great cause. Here are some excellent ideas for business donations to charity:
- Organize fundraisers in your community
- Offer some of your services for free
- Help promote charitable events through your network and website
- Donate any extra stock you have
- Have a specific product where all sales go to charity
- Offer a donation option on your website when people checkout
Ultimately, giving should come from the heart, and companies need to support a truly believe-in cause. Giving your time, talent, and treasure is good for the soul and the world. Have a culture of giving at your company and watch your business grow in profits and brand reputation. When everyone benefits, it makes the world a little better.
We all feel better when we give, and it can be beneficial to your business to support a noble cause. Here are five reasons why business donations to charity can help your organization:
1. Business donations help your community.
While there are needs worldwide, supporting your community makes an impact you can see up close. You can get involved with a church that works in the community, like the United Church of Canada. Similarly, there are numerous local food banks and homeless shelters that will appreciate your business charity.
This shows the public that you care about your city and want to help improve it. People like to be involved with a company that gives back to its community, and they know the money they spend at your establishment goes to meaningful causes. While your goal shouldn’t be to attract business because of your charitable giving, it’s a win-win for everyone when you support local.
2. Business donations improves customer loyalty.
People want to give to those in need, but they don’t always have the funds. They will be more loyal to your business if they can give through a charitable company while buying the goods they need. How customers view your business is important. You want to be known as a company that cares and gives back.
Supporting charities is a great way to build your brand and separate yourself from the competition. You want your charitable giving to resonate with your customers. The public will see you as trustworthy and concerned about causes they also believe in.
3. Business donations build employee morale.
Nothing is more important than a positive working environment in your business. While employees are there to make a wage, having a motivated team increases production and well-being.
Make sure your staff is aware of the company’s charitable giving and get them involved, too, if possible. People love to be part of something positive, and it’s a way of team building. You can organize staff outside of work and help at local events your company supports. Bringing workers together beyond a work environment builds friendships, which will benefit your company and its profits. A happy worker is a productive worker.
4. Business donations provide networking opportunities.
It can be hard for businesses to build contacts with other companies. To help your business grow, a mutually beneficial relationship in your sector is vital. What better way to meet clients, suppliers and contacts than at a charitable event. You are all there to support a worthy cause, and it is easier to communicate in this type of setting. Everyone is positive and happy, so why not build relationships with like-minded companies who give as you do.
Businesses that share the same outlook can align themselves together. You share common ground already, making it easier to build a beneficial relationship. You can also work together with your charitable giving to increase your impact where help is needed.
5. Business donations offer tax deductions.
Companies are always looking for ways to decrease the amount they pay in taxes. When you give to qualified charities, you will get a tax deduction for the amount given. This is a business strategy that benefits both the cause and your business. You need to make sure that the charity is a qualified organization and a cause you believe in because it should be about what you want to support most of all.
Maintain good bank records of any cash or property you donate and keep documents including the charity name, dates and amount given. Along with the amount you donate, you may also be able to include event costs like parking, travel and other fees in your deduction. It is smart to consider any financial gain to your business when supporting a cause. This helps keep your company profitable so it can continue to be charitable.
