5 Good Reasons To Support Charity And Improve Your Business
Getting involved in charity is definitely a noble thought. For small businesses, it can be an opportunity to help the local community. Charities and non-profits are constantly expecting funding in order to accomplish their aspiration, and charity can be beneficial for a business. Moreover, the success of your company doesn’t include simple hard work; it is also about loyalty of customers who could become a part of giving.
However, it is often difficult to pick up a cause than it seems to be. You must have some time to research various organizations that fit the values and culture of your company. Then, you have to think about the type of charities that customers’ support. There are other additional factors to be reviewed, such as frequency of donations.
Regardless of your choice of charity services, there are plenty of benefits. Noted below are some of the key advantages of giving.
- Tax deduction benefits: A business can claim charity hours of contributions on income taxes. For that, you have to itemize deductions and write off the number of hours and funds spent to volunteer, and claim them at the same time. However, to make sure you get proper returns, work with IRS approved non-profit organization. You can only get maximum out of such deductions when you have a proper record with the name of the charity, donation amount and the time spent volunteering. Tax deductible donations include sponsorship of events or charities, volunteered services, cash donations, and donations of services or inventory.
- Benefits to employees: Employee benefits and perks have also escalated to higher levels over the years, with even start-up companies lending pack with catered food and yoga days. Moreover, people are choosy about workplace as they are experienced, qualified and skilled. Getting a business involved in community services can boost the morale of employees and keep them happy. Charity services calls for greater participation in events during office hours, which benefits businesses. It gives the feeling of oneness and giving back.
- Publicity benefits: Sponsoring an event or programming, or volunteering the business time can be a great way of raising awareness about the cause and promoting business at the same time. You can publicize the event via social media and website.
- Better customer support benefits: Helping a community by giving back can earn massive traction with consumes. A Cone Communications study reveals that 85% of consumers develop a better outlook and feeling for businesses that are associated with charity. So, if you can do some research and identify the area of charity services that could boost your business relations with customers, the better for your business.
Giving back always benefits the one who gives. If you can support any nonprofit charity, it can give you a feeling of doing a good job. If you can, always stand up against human rights violation, poverty, child labor, and more.