Incorporate philanthropy into the firm’s budget

Many small-firm owners understand the importance of business budget planning so they can see what their enterprise's finances may look like six months to a year down the road. But it's also a point of emphasis for small-business owners to have the opportunity to give back to their community and make an impact in the lives of the less fortunate. While the company budget may be able to dictate just how much the enterprise will be able to contribute or how much time employees can be given to volunteer, this need to make a difference runs rampant among many small-business owners.

Give customers an experience they won't forget
Many enterprise owners who want to make a positive contribution to their community have to start with providing stellar customer service. According to an Inc. magazine article, it's important for small-business owners to take that need to "do good" and make it translate to all aspects of their company. Having customer service be an asset to the firm will not only help people feel good about the brand, but it will make the enterprise stand out as a business that truly delivers on its promise. It's good to start off with a positive reputation with customers in the area.

"Your company is not just a product," Susie Hadas, co-founder of Personally Cool, a firm that incorporated philanthropy into its business plan since Day One, told the magazine. "It's not just a business. For a customer, your company is a complete experience."

Budget with philanthropy in mind
Businesses will often plan to spend their money in different ways depending on what truly inspires the company owner. By using Hadas as an example, it is easy to see how she would rather spend less on marketing strategies so she would be able to give employees some days that they can take off to volunteer each year. Using a budget planning tool may be able to provide some insights on how firm owners can formulate a plan that allows for charitable donations once per month or some type of giveaway that would benefit the less fortunate.  

Show staff you care
After figuring out how much time employees will be able to spend  to volunteer throughout the year, it's important to partner with a nonprofit with a strong cause that the workforce will be passionate about. Recent research from UnitedHealth Group, a diversified health and wellbeing company, revealed giving staff members the chance to give back to the community will end up positive for the enterprise in the long run. In fact, 78 percent of U.S. adults who took part in the study said volunteering leads to feeling less stress, meaning small-business owners will be able to have a strong workforce.

"Employers enjoy the benefits of physically and mentally healthier employees; those that support volunteering programs in the workplace see added benefits that drive directly to their bottom line," said Kate Rubin, vice president of social responsibility at the UnitedHealth Group.

2016-10-20T19:10:26+00:00