Planning to include charity in your business plan?

When times get tough, it’s easy to ignore the possibility of starting a charitable program in both large corporations and small businesses. However, there are many benefits to doing so that warrant consideration, even when the economy slows down.

Advantages for businesses, no matter how small the business may be, are realized immediately and in the future. Some of them include a positive public image, the ability to distinguish a business from competitors, and additional devotion from both consumers and employees.

Types of Giving

Any amount that your company can give to a charitable cause can benefit your organization and the community. The sooner a program is fit into your mission, the better. Fiscal donations can be calculated by setting a per-sale rate or a percentage rate based on overall income.

Rather than making a financial donation, some companies choose to make a product donation instead. These donations can be given to individuals directly, such as giving a blanket to a homeless person for every blanket sold, or indirectly, by supporting a non-profit during a charity auction or fundraiser. In the latter case, you might donate a dozen watches to be incorporated into gift baskets.

Who Do You Give to?

When deciding on a charitable cause to associate with your business, there’s a few questions you can ask to determine the cause with the most beneficial effects to both your business and the community in general.

1. Does this organization help people who could use my product?

2. What charitable organization or cause has a similar mission?

3. Will this organization support my business somehow?

After an appropriate organization is determined, you may want to verify their background prior to finalizing your plans or making a donation. The easiest way to do this is by visiting the American Institute of Philanthropy’s website, www.charitywatch.org. There, you can determine how your chosen organization is rated by the organization.

The small amount of money it takes to include a charitable program in your business will be far less than the combined benefits of the positive public relations you will achieve, not to mention the communities you will help.

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