Your small business does not need to have a huge budget or full team of marketers to give back to the community through charitable donations. There are some creative ways for a business to impart social generosity within the neighbourhood and benefit the company at the same time.
Consider these compelling reasons why your business will gain substantial benefits through giving back to the community.
One of the most immediate compensations are in tax savings. A business can receive tax deductions through the sponsorship of a charity or event. For example, your business can benefit from the advertising and promotional opportunities resulting from the arrangement, while claiming the expense as a taxable deduction.
The huge bonus of free advertising is a major perk. Of course, it's important to comply with all guidelines and procedures recommended by the Australian Tax office regarding sponsorship and donations.
The increase in the level of exposure in the community is especially valuable for the business . People who have not been previously aware of your products or services are more alert to your business.
The positive image and reputation for giving back makes your business more appealing in the public eye.
Employees will respect a business that cares for its community. Workplace culture is considerably boosted when employees feel truly involved. If the business chooses to support a charity with a personal connection to a staff member, they become more dedicated to the activities and, thus, ensure the success of the program.
For example, an employee may have recently lost a relative to a health issue, or a manager could be passionate in regard to a particular cause. There are endless opportunities to help staff feel they are contributing personally.
The benefit of increased morale can lead to reduction in staff turnover and possibly give your business an advantage when recruiting new personnel.
An excellent way of creating client interaction and engaging customers is to get them involved with the process of donating to your charity. This builds a stronger bond and working relationship with your business and can also attract new clients. A powerful means of creating a competitive advantage.
There are a host of charities all seeking much needed assistance. Why not take the opportunity for charitable giving? It's a win-win situation for both your business and the community. Corporate donation opportunities can create a dramatic impact on others, change your business culture and make the community a better place.