Even with the economy the way it is, it's still possible to incorporate social causes into your business plan. Some people may view charity as something only large corporations or successful companies can get involved in, however, the sooner you include charity into your business the sooner you can benefit from it.
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.
Ways to Donate
When starting a business, it may be difficult to give a significant portion of revenues to charity, but it is always possible to give something. If incorporated into the sale price of each item or service from the start, managing small donations will be much easier in the long-term. Businesses can donate a fixed per-unit rate or a percentage of revenues or profits to charity on a regular basis, say monthly or yearly.
You may also consider a product or service donation instead. A like-for-like contribution can be made whenever you make a sale. For example, whenever a t-shirt is sold, you might donate a shirt to a homeless person. You might also donate your product to be used in a fundraiser event, incorporating it into an auction or yard-sale.
How do you choose a charitable organization?
The organization you choose should be an appropriate match to your product, services, and overall mission. Some questions you may want to ask are:
1. Who could benefit most from your service or product?
2. What charitable organization or cause has a similar mission?
3. What organization could promote your new partnership to the maximum amount of people?
Once an acceptable cause is determined, verifying the organization is a good idea. Go to charitywatch.org to see how the organization is rated as a charity.
While a charitable cause could slightly increase expenditures for a small or starting business, the short term benefits related to public relations, and the long-term benefits connected to the a positive social image will far outweigh any initial costs.
