Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

As an aspiring entrepreneur, the bottom line of business and building your brand are going to be your main concerns.

It’s all about getting your name out there and making some cash-money, honey, so you can be well on your way to the first million before your 3-year plan is out.

That’s all natural. It’s also perfectly acceptable to let financial success and brand recognition fuel your fire. But there is also a philanthropic side of business ownership. Take a look at the increasing power of giving back.

Entrepreneurialism with a conscience

Also known as ‘corporate giving’, it encompasses any strategy which is designed to support an external charity, community or cause. This is done through donations of time or money in order to help others out.

It’s a concept which has grown in popularity over the past few years. Customers are becoming more conscious consumers, and business owners are beginning to understand the many benefits of giving back.

How your small business can ‘give back’

Donate a percentage of profits

One of the most popular, and logistically-simple, ways to give back is to donate a small percentage of every sale to a charity or cause of your choice. It’s a tried-and-tested solution which works for businesses of all shapes and sizes, and appeals to customers.

Offer up your services or products for free

Acclaimed UK restaurant Dishoom offers diners a ‘Meal for a Meal’ scheme. For every meal ordered, they donate a meal to charities in the UK and India which help provide children with nourishing food.

Get involved with your local community

If you want to get a little more hands-on, consider getting involved in schemes or projects within your local community. Not only will this be an ideal way to support others, it will also help you strengthen bonds between your team members.

Why give back?

Aside from the fact it’s an extremely rewarding thing to do there are a few other, more selfish, benefits.

Strong brand reputation

Adding a philanthropic element to your business will present your brand as trustworthy, transparent and just generally a company you’d be happy to be involved with.

Customer loyalty and buy-in

The growing trend is to measure customer loyalty by return on experience (ROX) over return on investment (ROI). Giving customers the chance to ‘give back’ via your business is an effective way to boost their experience with you.

Improved morale and company culture

Supporting a good cause is a great way to bring staff together and encourage teamwork and provide a shared incentive across the whole company.

Is ‘giving back’ something you’d like to get more involved in? Or are you an entrepreneur with some of your own advice on how to implement giving-back into your business operations?

About The Author

Elizabeth Hughes

A content writer specialising in business, finance, software, and beyond. I'm a wordsmith with a penchant for puns and making complex subjects accessible. Learn more about Elizabeth.

More posts by this author
guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.