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As a business owner, you may be wondering about the ways in which you can give back and support the community that you operate within.
It goes without saying that investing back into your community is not only a fantastic way to give back to those who have supported your business, but can also be a great way to build your brand and differentiate your business from your competitors.
Today, we look at five reasons why it is important for businesses to give back and the many benefits that doing so can offer both the community and your business. Read on to find out more!
Whether you decide to donate to charity, participate in volunteer events or simply host a charity dinner for those in need, giving back to your community is one of the best ways to boost employee morale.
At the end of the day, we are all humans, and having your employees immerse themselves in philanthropic initiatives is a fantastic way to make them proud of the business they work for and can in turn boost overall employee morale and motivation levels.
Giving back to the community can also add more value and meaning to a job, thus creating a sense of purpose that employees can greatly benefit from both inside and outside the office.
Getting involved with charitable organisations is by far one of the best ways to build your company's reputation within your community.
By having a positive social impact and helping those who are in need, you will inadvertently help consumers view your brand in a positive light.
When businesses make the effort to help others, those very people that are being helped are more inclined to support the business in the long run.
Similarly, consumers who find out about your charitable giving will inevitably feel much better about supporting your business and are more likely to share your brand with friends, family and loved ones.
Now more than ever, consumers all over the world are paying close attention to what they buy, who they buy it from and what their money is supporting.
Over 87 per cent of consumers have stated that they would have a more positive image of a company that supports social or environmental issues, while a whopping 88 per cent have stated that they would be more loyal to a company that gives back to the community in some form or another.
A majority of consumers in 2021 fall into the millennial category who are noted for approaching business with a conscience.
Thus, in order to further build your brand and business, it is important to win over socially conscious consumers through the action of giving.
As a business owner, you already know the importance of networking and how it can truly benefit your business.
Networking is a fantastic way of forming valuable relationships with other like minded individuals or businesses, and participating in charitable events or collaborating with various charity organisations is one of the best ways to make meaningful connections.
Your commitment to giving back to your beloved community may lead to brand new opportunities with organisations that support your business, and you never know what may come knocking at your door!
Last but not least, in a world ruled by capitalism, giving back to the community is one of the best ways to differentiate your business from others.
Not every company makes the decision to donate their hard earned money or products to those in need, and doing so is a fantastic way of earning consumer trust and loyalty.
As mentioned before - customers want to and feel happy when they patronise businesses that have a positive impact, especially when your business is doing its part to make the community a better place for all, regardless of race, gender, religion or socio-economic status.
As you can see, the benefits of giving back to your community are plentiful - from boosting employee morale to building a positive reputation for your brand.
We hope that this article has inspired you to do something for your own little community that will show your appreciation for all the support that you have received over the years.
In the words of Michael LeBoeuf - "Every company's greatest assets are its customers, because without customers there is no company."