When you own a business, it’s easy to get lost in a sea of turnover, profit margins and pound signs.
Of course any sustainable business needs to make money, not least because there are mortgages to pay and food to put on the table. But businesses are becoming increasingly more aware of the need to give to those less fortunate.
Research last year found that while only 20% of small businesses give charitably, the more a small business gives, the better their performance. The study found that 67% of businesses that give to charity reported a boost in profitability.
Giving to charity doesn’t have to mean making a straight cash donation – though it’s certainly a direct and easy way to do it (as well as giving some companies some sweet tax breaks to boot)! Here are some ways your small business can help others whilst giving you that fuzzy feeling inside.
Donations don’t have to be financial
If profit margins are tight, you don’t have to sign a fat cheque. While the old adage, ‘time is money’ stands true, you can donate your time or skills to a worthy cause.
Do you have any specialist equipment or even meeting room space going spare at any point? These can also be essential for many charities who often have to spend a fortune on hiring costs.
If you’re having an office refurb, or you’re trying to offload last season’s stock you can always donate the things you no longer need to a charity of your choice – that way you get to help others and avoid pointless landfill.
Small changes matter
Whether it’s just you on your own, or you’re heading up a global business, even the small changes can make a difference – and some of the time they don’t even need to cost you a great deal more. You can choose suppliers that donate to charity on your behalf when you buy from them. From water cooler bottles to your energy suppliers, check out their charitable stance and make your choices accordingly.
Sponsor a charitable event
Sponsoring an event can be a win-win for both your business and the charity. They get their costs covered and – although it seems as though it’s not in the spirit of charitable giving – you get some exposure at the same time. Aligning yourself with a charity you feel close to is important, and event sponsorship can help to build an ongoing relationship with the charity of your choice.
Encourage others to give too
Using your platform as a small business to promote charities is also a worthwhile way to give something back. You could encourage your employees to take up volunteering opportunities, or offer to match any donations they might make.
And don’t forget your customers/clients. There’s no need to be pushy either – even a simple act like leaving a charity box out on the counter of your local shop-front or at reception will be well received by any charity – no matter the amount.
Want to chat to us about your finances? Get in touch today.