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December 2018

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Giving Back to Local Charities

Written by , Posted in Business, Entrepreneur

Investing in your community is a great way to give back to those who have helped support your business. Giving back builds your brand’s recognition and reputation, and also introduces networking opportunities as you may have the opportunity of meeting other business people and developing relationships with complementary businesses.

You can give back in different ways whether it is volunteering at a local charity, helping a neighbor or making a monetary donation, it is not the act that matters. Maya Angelou was right when she said, “No one has ever become poor from giving.” Remember, no matter how you do it, giving back to your community will always help someone.

While cash is always accepted in groups serving the needy, time and effort is just as important, if not more so. But when your business is in the red, and you won’t be able to give money, you can offer your time and skills by volunteering. Volunteer groups and non-profit organizations do so much to help the communities that all of us are a part of, but they can’t do it alone.

Consider the following as ways you can start giving back to local charities and pay your good fortune forward.

  • Share your knowledge
  • Offer your business services at a local event
  • Donate to the food bank
  • Encourage employee volunteerism
  • Sponsor a local charity event
  • Launch a charity drive
  • Give a discount for firefighters, police officers, military, and teachers
  • Search online to find other ways to give back, etc.

Though selfless in concept, giving back is actually a great way to boost your marketing efforts and improve internal morale. Here’s why!

  • Good for PR, social media, and SEO

Good PR arises when your business joins in charitable events and get positive media coverage. On search engine optimization, a mention of your business, and a link to your website from a credible media outlet can increase your website’s presence. For social media, sharing your business’s philanthropic activities on Facebook, Twitter, Snapchat, Instagram, Pinterest, and other social media increases the likelihood that your followers may share your posts with their followers and can drive new visitors to your website.

  • ·Consumers may spend more on your products or services

To differentiate yourself from a competitor, backing a nonprofit organization might be the final factor that pushes consumers in your direction. Customers that see a meaningful cause behind their purchases will be more likely to return to your business, again and again, giving your business long-term and highly profitable relationships.

  • Gets you free marketing and publicity

Many charities offer free publicity as a means of attracting the support and sponsorships of businesses thus, generate continued support from your current customers and expose attention from new ones.

  • Will qualify for charitable donation tax deductions.

There are plenty of ways to get tax write-offs for simple acts of charity among IRS approved nonprofit organization, but be sure to follow proper procedure for documenting and filing them. Accountants and nonprofit directors are usually familiar with tax write-offs of this nature, so work with a charity representative or your company’s bookkeeper to make a plan that will shave off some of your tax bills.

Take care of the community and the community will take care of your business. How else can you pay success back while paying it forward for future generations? Let me hear it on the comment box below.

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