Why giving is good for business

Giving is good and can make us feel great! In this post we’ll tell you why businesses who give, not only contribute to the community but also contribute to their own bottom line.

Australians are great at giving!

Recent research has shown that Australians are particularly generous donors. One such study showed that up to two thirds of Aussies (majority were Millennials or Gen Y) had donated within the previous 12-month period. Whether it’s Gen X, Y, Zoomers or Boomers doing the majority of the giving, consumers do take notice of companies who donate to charitable organisations. Importantly, customers are spending more money and time with those companies showing their corporate philanthropy.

Business benefits

Whether it’s by percentage of profits or as an ongoing charitable enterprise, businesses both big and small benefit from donating in several ways.

Happier employees

Employee morale is improved when a company’s culture is seen in a good light in respect to community contribution. This can help with staff retention and, particularly during these trying times, inject some sorely needed positivity into an already struggling workforce.

Boosting marketing

Invaluable marketing connections can be made when a business aligns with a charitable partner’s own marketing team. The goodwill attached to donations not only shows the business contribution in the eyes of the community but also within business circles. This can create a positive flow-on effect and favourable brand association.

Tax deductions

This is the bonus for doing good and Paying It Forward. It’s also the simplest reason for philanthropy and should naturally be a part of any business’s accounting practices. In the challenging year ahead taxes and deductions may also play an important part in improving your balance sheet.

Benefiting the community

Corporate and business donations improve social outcomes for local communities. These may be especially relevant in 2020 considering Australia’s misfortunes so far this year. Giving back by way of charity creates real change. That in itself is a great bottom line to add to any website’s About Us page.

Give a little, say a lot!

Slack, one of the world’s largest instant messaging services, are currently donating weekly lunches via The Catering Company to local charities as a part of their corporate pledge initiative. This has provided greatly needed support for struggling communities in and around Melbourne and Victoria. Now that’s a great message!

The Bottom Line

Charitable donations have, arguably, never been more relevant for our community than right now.

If your business would like to contribute to a local charity via The Catering Company or if you normally volunteer with a charity but can’t because physical engagement is not allowed, engage with us instead. We can partner with you and create a food program for a community organisation or group and help you give back for good today. Read more.

Sources:

https://www.philanthropy.org.au/tools-resources/philanthropy-and-covid-19/

https://www.fpmagazine.com.au/gen-y-the-most-generous-donors-in-australia-365790/