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How Supporting a Charity Can Help Your Business Grow

As a community-minded business owner, there’s no doubt that your mailboxes, both physical and electronic, are flooded with requests for support from local charities and good causes.

Appeals for financial aid, sponsorship opportunities, and requests for donations of goods and services just keep coming, and it can be hard to know who to say yes to and who to decline.

According to findings from recent studies,  business giving in Australia is on the rise and reached $17.8 million in 2015-2016. With $7.7 billion donated through community partnerships, and $6.2 billion contributed in cash donations, surprisingly, 99% of giving was made by small to medium businesses, and only 0.2% of large companies donate regularly.

With cash flow and budgets often controlled by those whose objective it is to authorise only essential spending, it can be easy to see how, with so many good causes out there, giving is now being kept to a minimum in larger corporations and perhaps even curbed altogether.

But saying yes is critical to the future of your business.

If you’ve put your companies giving on the back burner for any reason, here are five reasons that you should create an alignment with a local charity and incorporate charitable giving as an essential part of your business model.

1)It will offer you advertising opportunities.

Supporting a charity will expose your business to more people who will potentially be able to help you grow. If there’s an alignment between yours and the charities missions, your brand will be showcased in front of businesses, organisations, and potential clients which weren’t necessarily part of your original marketing target. Support from a company to a charity is often acknowledged on their website, through social media, and through various press statements released into the public arena.

2) It strengthens employee relations.

If your business has a visible philanthropic arm, this will appeal to the altruistic side of your employees. When they witness your giving side, knowing that you have the benefit of the community at the heart of your mission will make them feel good about coming to work for you every day. Knowing that you have a bigger picture purpose that isn’t focused solely on your profits will encourage your employees to work at their best.

3) It will give you opportunities to network.

Through sponsoring a not-for-profit event, or through ongoing sponsorship of an organisation you will receive invitations to events and further opportunities to network in your field. By aligning with a charity, their supporters and associates will become familiar with you and your company mission which will establish new relationships to further help your business grow.

4) It will improve your public image.

Most organisations align with a charity by making ongoing monthly donations through a corporate sponsorship program or one-off sponsorship for events. These sponsorship opportunities always include recognition of your support by way of signage, or acknowledgement on a website or brochure. This gives more people the opportunity to see that your business operates with heart and that you’re willing to support organisations that have the benefit to the community at the forefront of everything they do, making potential customers much more likely to trust you.

The combination of all these benefits lead to one primary benefit for your business: they will all contribute to your growth.


Article Thanks to Heartfelt Homes

Bottrell Accountants | Newcastle Accounting Firm | Maitland Accountants

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