Looking At The Business Benefits Of Giving To Charity
Anyone who pays attention to the news knows that there are plenty examples of a business donating to charity. There are many different forms this can take from fundraisers to direct donations to even sponsoring a charity, there are many good reasons for a business to look at donating to charity.
#1: Have To Love Those Tax Deductions
There’s no question that having tax deductions will help lower that final bill owed to the taxation officw. Any donations made to charity can be deducted off the tax bill, giving a company considerable savings off the bottom line of what is owed and while also buying some goodwill in their community.
#2: Free Positive Press & Good Will
Speaking of good will, how often do you get free good press for a tax deduction? It’s not very often, and this benefits the company not just as a PR boost – but it gets that company and that brand into the papers, on the Internet, and on the local news. That spreads a positive message about the business and can create a goodwill that eventually leads to additional customers or recommendations from word of mouth references will come out of that.
Good will and positive press are hard to find, and donating to charity is a great way to get both. For some businesses the only work they do that might be considered locally news worthy is hiring, firing, or charity so it really pays off to embrace the third one there.
#3: The Simple Good It Does
Many of the richest CEOs in the world who built companies from the ground up believe firmly in the sheer importance of giving back. There is something to be said about karma and the good feeling that comes from doing something good. That good feeling can lead to more appreciation of those around you, and that gets passed down through the work ranks. In the same way one bad apple can ruin a bunch, in a business setting when the higher ups feel good, everyone feels good and that leads to better workers who are more productive.
#4: Good Bonus For Young Workers
Many Gen-X and Millennial generation workers look for benefits and a certain culture from a company. To many of them, being able to do community service or volunteer every so often isn’t a chore, it actually is a bonus that will attract them to a job and to being happy with working where they’re at. One way or another, businesses who want to succeed will have to find away to attract and keep young talent and this is a great way to do it.
There are many good reasons to donate to charity as a business, and these four only scratch the surface of all the great reasons and options out there. There are so many different ways to get involved with charity and social work, so your business is certain to find one that works for you.