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The idea of social responsibility is super important and more prevalent than ever. Gone are the days that it is acceptable to take without giving back. That goes for individuals and for companies as well, even big corporations are recognizing the importance of giving back to the community and charities.
It's important to give back to the community and those less fortunate than ourselves. For an individual, we can volunteer our time or give a donation to a charity or local organisation. Or we can help raise awareness through walks or events or sharing on our social media. There are lots of ways to give back and support each other.
For a business, whether it be small or on the corporate level, it is also important to give back for various reasons that benefit both the community and the company itself.
Help people and the community
The main reason for giving to a charity or your local community is to help people! Giving back is not only kind it is important as communities depend on that support. From sponsoring the local soccer team to funding non-profit organisations, corporate sponsorship is really critical to community development.
Individuals pay for the services or products the corporation offers and in turn, they share some of their profits back. So it is a reciprocal and positive relationship that gets developed. Many businesses choose to give back to their local community rather than those abroad as there are many additional benefits to giving locally.
Build your relationship with the local community
One huge advantage to giving back on a local level is that you build a positive relationship with your local community. Having a positive brand image is something money can't buy. It comes through trust, quality and transparency.
If you choose to develop a Charitable Donations Programme that supports your local community, it will benefit both your community and your business itself by building trust and a positive brand image. It is truly a win-win for everyone involved. The community receives much-needed financial support and the company looks good which will bring in more sales which will create more funds to give back.
Free positive publicity
When you support a charity or your local community in an event, you can gain some really wonderful, free positive publicity! When you donate to an event, your logo will be shared which will gain some free press. Or if you sponsor a local race or event, you could provide the trophy or equipment and be listed on the flyers as a sponsor. So in exchange of helping out, you get that great positive publicity in return.
Pay less corporate tax
Another big benefit to the corporation is that there are tax deductions for charitable donations. The tax relief depends on which country you are in and what you donate whether it be money, time, land, equipment or product. Rather than paying extra tax, some of that money can go to support your local community or a charity. So when you look at it like this, it doesn't cost any extra to give back.
Networking
When you give your money or time, you meet with members of the community. This is an easy and positive way of networking with those who are event planners and leaders in the community. These are really beneficial connections to have for the future. You never know how networking can help, from finding a new employee or accountant to gaining new customers from word of mouth.
How to get started
First, you need to decide which charity, organisation or community you'd like to help support. Then organise a meeting to see what help they need and what you can do to help.
Some businesses will choose charities that fit within their ethos or their brand. Others choose to offer support in other countries. You could support those in the country where your products are produced. Or choose a charity that your target audience will also support. So there are a lot of options available to you - it comes down to what is the best fit for your company.
But keep in mind all of the benefits listed above about supporting your local community. It's worth considering sharing some of your charitable contributions locally.
