How Supporting Charity Is Good for Business

In today’s climate, social awareness is at the forefront of many businesses. Pursuing philanthropic causes is practically a necessity for attracting both consumers and employees. While large corporations donate substantial amounts of money each year to charities, it’s not uncommon for small businesses and individual donors to promote causes they care about as well.

While it is not the sole reason for helping, supporting charity gives you a bit of an edge against your competitors who do not make giving back a priority. There are a lot of other reasons that show how supporting charity is good for business.

Showcases your values:

Volunteering, food or flowers for events can all get your company’s name on a brochure and website as a community-focused, philanthropic company. Not only will you give back to your community and make a difference, but you’ll also strengthen your brand at the same time.

Encourages your team:

Another reason why businesses should incorporate philanthropy is that it encourages the team to do the same. You can volunteer together to increase team building within your organization. This not only improves morale, but it can also keep your employees from jumping ship.

Chicago’s Thomas Kane is known for his philanthropic efforts and is the Illinois President of the Friends of the Israel Defense Forces (FIDF). Thomas Kane is intimately involved in a number of local charities and enjoys getting to connect with new people in the process.

Customers support you:

In business, as you know, they are your potential buyers and assets. Customers love to see their favorite brand to be more involved in solving societal issues. There is no better way to show your customers that you care by supporting charity.
Since customers tend to be loyal to certain brands, you can up your chances of becoming one of those brands by doing more toward the greater good. You may find yourself gaining more customers in the process, which benefits your bottom line.
People will start spreading the word about your good deeds, and your business will gain more recognition in the process. Whether your motivation is coming from the desire to become more philanthropic or from your plan to improve employee retention and community relations, just take the initiative to get started and everyone involved will benefit.