Sylvester Knox

Sep 22, 2021

2 min read

Financially Feasible Ways to Incorporate Philanthropy in Your Business

Most people look for authenticity in a brand. This will influence them to support the brand, or spend money on the services or products provided by a company. Having philanthropy be part of a business is an excellent way to win the trust of customers. It expresses authenticity. Philanthropy is not only for wealthy business owners. There are many ways a small business can be involved with philanthropy. Some methods are very cost-effective.

An effective way is to develop a partnership with a local community organization. It should be an organization with a mission to address a social concern. When a strategy of giving is developed by a company, it will create a long-term positive relationship with the partner organization.

A business can make philanthropy part of its corporate culture as well as support its employees. This can be done by having a volunteer time-off policy. It should be designed to encourage workers to give time to charitable causes. This will provide a charity with more attention as well as increase the company’s visibility in the community.

A company can benefit by combining team-building activities with a charity. A team within a business can work at collecting used board games, clothes, books, and more. This can then be donated to a needy charity. It won’t cost a business anything and is a way for employees to work together on a project.

A company should make philanthropy part of its mission work. Giving should align with the priorities of a business. It is more than money that is donated. It is investing in staff volunteering, product donations to benefit worthy charities. This is a way to complement the company’s world views.

A business could offer to help a charity by providing their expertise in staff training. There could be a drive at a company to get common supplies for the charity’s office. A company could join a charity for one of their fundraising drives and donate things needed to make this a success.

A small business needs to be purpose-driven. It has to be focused on something larger than revenue and profits. Creating a culture of giving is something that should be encouraged in every area of the company.

Incorporating philanthropy into a company doesn’t always require giving funds. It is possible to accomplish this by sharing a company’s time and talents. Being physically part of a charity is usually more valued than just providing money.

Originally published at https://sylvesterknox.org.