Five reasons why supporting charity benefits business

Five reasons why supporting charity benefits business

From Shahid MiRza

Find out why is so important for your business to support charity and which benefits will you get. Make your business more successful with charitable projects.

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Increased Marketing

Philanthropic businesses are some of the most powerful in the world. For example, Apple matches employee donations and has donated more than $78 million to charities through 2015. Charitable sponsorship is a great way to do good in your community, while also gaining marketing experience. Donations put your company's name out there, especially if you sponsor some kind of event. Just make sure that the event or charity mirrors your own company's goals. For example, if your company makes sporting equipment, consider sponsoring local sports teams or tournaments. That will show your current and future clients that you really care about your business and your community.

Team building

Our subordinates shy away from their job responsibilities and engage in meaningless exercises in their workplaces very often. You can trace this with the app mSpy

Participation in charity projects allows employees to realize their social potential, go beyond professional activity, gives them the opportunity to learn new skills, make new friends, expand their sphere of influence, and commit good actions in a team of like-minded people.

This leads to team building and also to increase employee loyalty.

At Microsoft, employees themselves have historically initiated charitable initiatives. “In Ukraine, a certain approach is practiced: any employee can initiate fundraising, and if the company sees that the initiative receives support from the team, the company doubles the amount collected.” – the representative of Microsoft in Ukraine, Yaryna Kliuchkovska says.

Tax Deduction

This is one of the most immediate benefits of corporate donations. You may not instantly see how your contribution benefits your community, but you will quickly notice the tax savings. Of course, businesses shouldn't donate with the sole expectation of financial gain, but there are financial rewards for helping a charity in need. Businesses can usually receive tax deductions from sponsoring charities or events, but you should make sure to follow the rules and go about the process in the right way in order to comply with all tax requirements.

The allegation in your knowledge and expertise

Every business and its employees strive not only to "sell" but also to demonstrate its expertise in what it does and how it does this. If your company positions itself as an expert, it is more trusting in your business. To share your experience and knowledge with organizations that need this it is not only socially responsible but also fashionable and extremely interesting today. To hold training, workshops and consulting are examples of intellectual charity.

It's Good for Your Community

Charitable contributions have numerous benefits, but the most important one is obvious: you should give back to your community. Charitable donations help better your community, and the public will notice if a company is making a real effort to improve its surroundings. Your company's charitable donations could help improve schools or parks, giving children safe places to learn and play. If you choose to donate to a nonprofit organization that conducts medical research, you could also help in the effort to cure diseases. The opportunities are endless and extremely helpful.

One way to engage employees to participate is to align the company's donation choices with causes that have the greatest meaning to your workforce. For example, Brixio, a tech company based out of Lehi, Utah, chose to donate to the Livestrong Foundation after several of Brixio employees' loved ones were diagnosed with cancer. Josh Aston, Brixio VP, said there are a lot of reasons why companies don't donate to charities, but you can always help initiate change. "Not every company can be a social change company," Aston said. "However, we are starting to actively bring up our partnership with Livestrong to those we do business with, getting the idea of social giving planted within them."

There are many reasons why your company should make charitable donations, and any reason that motivates you is a good one. Donating to charities can help change your business and work culture. It can also have a dramatic impact on others. So pick a cause that you believe in and make your community a better place to live. It's good for business.

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