Nonprofit organizations do a lot for those in need, but they can’t do it alone — they require the support of businesses like yours to keep their good work going strong. It’s not just about writing a check or giving your time — supporting these charitable organizations can help your business too!
Giving Back is Getting More for Your Business
People love working with businesses that have a reputation for giving back to the community. Charitable organizations will typically thank their donors through published literature, on their website, on social media, at events, and in their newsletters that go out to their followers — this is all great publicity! And if it boils down a customer choosing between you and your competitor that doesn’t support charity, they are much more likely to choose you!
It’s becoming quite common for larger businesses to pay their employees to volunteer for charity a certain amount of days per year or for smaller businesses to have a charity day where all of the employees volunteer together.
Sponsoring a charity event, such as a fundraising race is a great way to advertise for your business. This would typically get your business’s name included on promotional signage for the event including banners, flyers, social media ads, and t-shirts.
If sponsoring your own event feels like too big of a starting point, supporting charities by simply attending their own fundraising events is also a great way for businesses to network. You can build alliances with other like-minded organizations that want to give back and find ways to work together to boost sales.
The best way to find out how to help is by talking with the nonprofit of your choosing about their goals and how you can work together to accomplish them.
It’s also smart to use your promotional venues to show your current customers that you support nonprofit organizations by adding “Proud supporter of ___” to your business tagline. You can do this via your website and social media accounts, as well as store signage. This shows potential new customers that you care about something and are people-oriented.
Tax Deductions and Donations
While we would all agree that the gift of giving is the best reward, there are also fiscal rewards for donating to charity. Businesses can almost always receive tax deductions for their donations, but you should speak with a tax advisor to ensure that you comply with all of the appropriate requirements.
Choose a cause that you believe in and make the world a little better for those in need. It’s good for business!