Giving Back In Business Benefits Everyone
When it comes to giving back in business, are you returning the same support to your local community that they've no doubt shown your brand over the years?
Regardless of the size of your brand or the sector in which you operate in, there’s plenty of opportunities to engage and ultimately “show up” for a social cause of your choice. Contrary to popular belief, giving back in business doesn’t have to be via large cash donations, so what are your options?
Thankfully, there are many ways you can support charities and social causes, with various levels of commitment in terms of time, money and resources. If you’re considering ways to give back to your local community as a brand or business, the good news is that there are plenty of ways to do so, with just a handful of ideas including:
Sponsor a youth sports team
Donate the use of a delivery vehicle or other resources for a local function
When relevant, offer your brand’s products or services
Get involved in local community events
Have coin donation boxes or sell tickets for a charity event at your business locations
Donate a portion of your sales to a charity on a particular day or designated time frame
Use your premises as a free meeting or workspace for local charities or groups
Offer employment or training to those from disadvantaged backgrounds
Become an advocate for a social cause that hits home for your sector or staff
At Muro we love to give back, sponsoring our local soccer club, and also donating and raising funds each year for the Variety Children’s Charity.
“Community is very important to us so finding ways to be able to show support and give back through our business is a great way to get involved” Says Michele Romano, partner at Muro.
Five Benefits Of Giving Back In Business
Regardless of your industry, sector, products or services - giving back in business simply benefits everyone involved. Apart from the obvious “feel good” factor, did you know that there are also a surprising number of other benefits involved in the process?
Free Publicity - Organizations that participate in local fundraising events get an added benefit of marketing their name and business, allowing new audiences to get to know who you are and what you’re all about.
Audience Engagement - Keeping existing clients engaged is one of the most effective methods if you’re looking to increase your customer retention rate. By getting involved in your community, you’re reminding them that you’re still present and a reliable trade partner.
Networking Opportunities - Often confused with selling, networking is actually all about building long term business relationships, a good reputation, and fresh ideas. It’s also a great way to build your brand’s position within your designated industry or sector.
Company Culture - Have you heard the phrase “happy staff lead to happy customers?” By getting your team involved in an event that puts them front and centre within their own community, it encourages them to be proud of where they work.
Tax Advantages - While tax laws in Australia are complex, speak to a professional accountant to see what advantages are available to you in regards to charity or donations. While this shouldn’t be your primary driving factor, every little bit counts with keeping your tax bill down.
Where To Find Further Tips On Giving Back In Business
Here at Muro we believe that every business owner is an entrepreneur and we are here to support and guide them through their journey through strategic business advice and consulting. Please get in touch with us at Muro today to ensure that you’re on the right path for success.