3 cost-efficient ways to support charitable causes: In today’s climate, social awareness is at the forefront of many minds. For businesses, pursuing philanthropic causes is practically a necessity for attracting both consumers and employees. While large corporations often 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.
3 cost-efficient ways to support charitable causes
Below, philanthropists share cost-efficient ways for business owners from all backgrounds to promote causes they care about.
Support Local Organizations
As Scott Douglas Clary, CEO of ROI Overload, explains, “There are hundreds of small organizations that need support in a variety of ways, outside of large financial donations. 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, you’ll strengthen your brand simultaneously.”
Chicago executive Thomas Kane of Merrill Private Wealth is known for his philanthropic endeavors. As a supporter of a number of local causes, he helps advocate and raise money for organizations around Chicago including Friends of the IDF, the 100 Club of Chicago, Jewish Federation of Chicago, and the Western Golf Association Evan’s Scholars program, among others.
Kane notes that leaders of small businesses can take part in local charitable initiatives, even if they don’t necessarily have the means to make a significant monetary contribution.
“Smaller businesses can choose to host an employee charity drive or similar event to raise awareness as well as funds. Events like these can make a real impact to local charities, while at the same time reiterating the importance of giving back to the community to its own employees,” Thomas Kane comments.
Encourage your Team to Volunteer
Another simple way for businesses to incorporate philanthropy is by offering their employees paid time off for volunteering for a charity of their choice.
You can also volunteer together to increase team building within your organization.
According to Rajeev Prasad, founder of PayBee, “encouraging employees to volunteer for causes they care about, works great in enhancing employee happiness. It helps in recruiting and retaining talent.”
Budget for Charitable Giving
John Hill, president of Gateway Retirement Inc. says instead of writing a check every time you hear about a good cause, plan your charitable contributions in advance.
“Don’t respond emotionally or urgently to things,” he says. Instead, Hill believes in budgeting for charitable giving each year to ensure your money goes to your preferred charities, rather than ending up donated in response to unsolicited appeals.
If you can’t afford to donate financially, volunteering your time can have just as important of an impact. Nonprofits are always looking for volunteers, whether it’s to feed the homeless at a shelter or to hand out water to survivors of a natural disaster. Both won’t cost a penny other than time but will make a difference to those in need.