You may not have realized but giving to charity is a popular undertaking for many businesses around the world. Recent figures have shown that a massive $410 billion was given to charity in the US in 2017 which shows just how big a sector this now is.
If you have never thought about giving financial contributions to charity as a business, then you really should. Many consumers expect companies to fulfill their social responsibilities otherwise they might not interact with them. Of course, it is also the right thing to do as a business for the local or global communities that we are all part of.
Why does giving to charity make perfect business sense?
There are many reasons why making charitable actions part of your business model is a wise choice. Here are some of the major ones to take on board:
• Helps establish trust with consumers – one of the things that makes people choose to use your services is the level of trust they have in you as a company. This equates to trusting you to do the right thing and engage in philanthropic acts such as giving to charity. By meeting those expectations, you are helping to build the customer trust that is needed to succeed in modern business.
• Helps build a positive brand image – along with consumer trust, your business also needs to build a strong brand with a positive image. That will help boost your reputation with the public and other businesses to bring in more sales. By being known as a company that gives to charity, you are well on the way to be a brand that has a positive feel about it. FreeLotto has helped build its brand in this way due to the many charities supported by FreeLotto and the players. By allowing the winners of their free lottery games to easily give money to charity they are also showing the world what is important to them.
• Makes staff feel good – one of the factors sometimes overlooked in why giving to charity is good for business is the way it makes staff feel good about themselves. They will bring that feeling into the workplace and be more inclined to work harder for you as a result.
• Networking opportunities – one of the great things about being involved with giving to charity is the chance it gives you to network with other businesses that are doing the same. This can bring you into contact with some powerful, influential new contacts who will be happy to repay your good deeds by giving you a helping hand in return.
It’s just the right thing to do
Of course, as well as making perfect business sense, giving to charity is simply the ethical thing to do. All successful businesses should try to help out those less fortunate and supporting charities is the best way to do just that. Why not find a charity that is close to your heart, or that of your employees, and make the effort today?