Why Small Businesses Give Back
Owning a small business gives owners a unique opportunity to give back to their communities. In fact, charitable giving from companies has increased 2.7% over unprecedented 2020 levels. Post pandemic philanthropy is growing due to high interest in corporate responsibility as well as a social desire to support causes companies believe in. It’s an exciting trend for small business owners to explore if they are looking to make a difference in their community.
When You Give, You Receive
Small business owners might be apprehensive about donating to charity, not because they don’t want to help but because they are worried it will negatively affect the bottom line. However, you might be surprised to learn that it can have the reverse effect. Contributing to a charitable cause will help your business more than you think.
The Benefits of Giving Back
The number one benefit to giving back is opportunity. First and foremost, by giving back, you will receive the opportunity to make an impact on a cause that’s important to you and your community. Contributions may go beyond influencing your local area to affect a global issue. Others in your community will also receive the chance to contribute through your company when they may not have had the opportunity without it.
The option to give back to your community will organically grow your network. You will meet new local leaders, neighbors, and business owners, and with that, you will attract new customers. Building relationships may lead to increasing the number of advocates for your business. The growth of your network will lead to increased profits.
Expanding your heart and bottom line are just two of the many benefits of giving back. Research shows that employees who volunteer are happier. Aligning your small business with a charity can boost employee morale and improve company culture. Leveling up morale and culture often leads to attracting top talent.
How Do I Choose Where to Donate?
It makes sense for small business owners to find a local organization tied to the community. You may also want to choose a smaller charity as those can sometimes get lost in the shuffle when larger corporations are looking to donate. You could opt for a national charity but make sure it has a local program that you can connect and work with.
Choose a cause based on your company values, and be thoughtful when making a choice. Spend time researching organizations and talking to other small business owners about how they give back. Remember, your contribution will affect you and your business, so the cause should be one that you understand and are passionate about.
Ways to Give Back
There are plenty of options in how your business can give back. As with choosing a charity, you will want to spend a little time thinking about the best way for your company to give back. It could vary from getting your employees involved to donating products and services. You could also offer discounts to people within the organization or even host an event to raise funds.
For example, The UPS Store, Inc. recently introduced the Start Small, Grow Big program benefitting Junior Achievement USA (JA). This program supports the next generation of small business owners and entrepreneurs through the funding of education. The curriculum is for school-aged children and is focused on entrepreneurship, work readiness, and financial literacy, which are are initiatives The UPS Store, Inc. remains highly supportive of. The UPS Store, Inc. kicked off the program with an individual donation $50,000, and customers in more that 5,000 stores can join in by making donations during checkout in their local store.
There’s No Wrong Way to Give Back
When you choose a charity and a method that aligns with your small business assets and values, there is no wrong way to give back. Investing in a local charity is an investment in your community and your business. You will create an impact, build connections and feel gratitude with those around you.