The value of a business depends upon in what ways it helps the staff team members to grow personally, what type of financial gains it reaps, how the product or service impacts society and so much more. A business is not merely a financial venture in generating revenue but is also a means of contributing to the community. Philanthropy is defined as the desire and action to promote welfare for others. In this coming new year, it is recommended that you take active steps to ensure that your business is doing its part to practice philanthropy, for the local community and the world at large.
You may want to do research to determine which charities would be best for your business to donate to. You may also want to consider creating a program where a portion of your proceeds on a particular product is given to a non-profit organization. Last but not least, it is advisable to ensure that your mission statement includes the company’s intention to act philanthropically in its business dealings
One way that your business can be sure to gain a strong reputation as an organization that cares for the community is by researching local charities. You may contact institutions such as churches or food banks in order to ask about which charities exist in the area. Additionally, you may want to perform a simple Google search for non-profit organizations and charities in your area.
There are a number of ways that a charity can support philanthropic causes, depending upon their focus and function. Charitable organizations may include foster care services, local food pantries, or residential care programs for those with disabilities. Your company can donate a certain amount each year to one of these groups in order to help better the community.
Performing a kind task like this will also give customers the impression that your business is credible. Those who track insider trading have demonstrated time and again that businesses with a good reputation for donating to charities are more likely to see stock market increases.
Programs for Percentage Donations on Products
It is possible to develop a program within your business wherein particular products create profits, not only for the company but also for the non-profit organization of your choice. It is advisable to choose a non-profit to donate to that is relevant to the purpose of the product whose sales will be generating its commission.
For example, should your business vend clothing items, you may want to consider creating a program where two percent of each sale on this clothing is given to organizations to support small textile businesses in third-world countries. Your customers will generally be drawn to purchase with your business because they hold a sincere interest in the product. Therefore, they will be more likely to continue purchasing if they are aware that you donate to a cause related to their product of interest.
The mission statement of your company should include details outlining exactly in which ways your organization aims to support philanthropic efforts. This means that your business will put its intentions to partake in charitable activities into writing for the world to see. Doing this assists the team at your place of business to act accountably toward accomplishing charitable efforts. It also keeps the betterment of society and human welfare for all at the forefront of the employees’ minds in performing their work for the business. Employees feel more enrichment and satisfaction in completing their work tasks when they maintain a keen awareness that the work they do is benefitting the greater general public.
There a handful of ways that your business may support philanthropic causes in the coming year 2021. You may choose to do research on charitable organizations in your local area to decide with whom to do business. You may also design a program wherein a portion of the sales on a given product is donated to a particular charity. It is recommended to ensure that your mission statement includes a piece about contributing to the global community, as well. This will serve to better employees’ personal growth, fortify the strength of the team, and contribute to better practice of humanitarian efforts for those who witness your company’s success.