Every business is approached by causes looking for some assistance. It might be a little league team in need of uniforms or a local charity, expect to be approached and asked to pitch in. As a business owner you’ll want to consider accepting some of these opportunities because it’s just good business.
Helping out your community is a great way of building your brand and developing a local presence. As a sponsor your company’s name will be visible to others in a positive way. People in your community will remember the company’s that support their kid’s little league team or donates goods to a local charity. In helping the causes you help yourself, this is a classic win-win situation.
Additionally, helping charities can be a tax write-off. Talk with your tax professional to see how you should go about charitable spending. They will be able to offer guidance on accepted giving and the types of records you’ll need to keep in order to deduct such spending.
Before you give, however, be aware of the charity’s reputation and record. Find organizations which are known for doing good work, spending wisely and have a solid reputation within your community. Donating to questionable groups can cast a shadow on you as well!
Helping others truly is a great way to get the word out about your business and build a reputation as a worthwhile place for people to spend their local dollars. While the effect isn’t as direct as a marketing campaign, the benefit of helping great causes adds up in goodwill and community loyalty!