While you may think giving back to the community will hurt your bottom line, it can have a surprisingly positive impact on your business. Below are some ways your company can get involved and help in the community.
1. Support a local sports team
Whether it’s minor league baseball, high school cross country, or a pee wee football squad, sports teams are often the glue that holds a community together. Supporting a local sports team does more than encourage young athletes and healthy exercise – it also creates opportunities for exposure for your business as frequently as every week.
2. Create a scholarship
Creating a scholarship fund shows that your business is invested in the future of the community. Consider designating the scholarship specifically for students who want to go into your area of study, such as law, food service, or engineering. Don’t be overwhelmed at the idea that a scholarship will cost you tens of thousands each year; as little as $500 can help defray the costs of books, fees, and other expenses.
3. Join the local Chamber of Commerce or Better Business Bureau
Local organizations such as the Better Business Bureau and Chamber of Commerce help connect you with other business owners in the area. This not only helps you stay informed about issues facing local businesses, but also creates a peer group that can be used as a sounding board for solving difficult problems or brainstorming new ideas. Likewise, membership in these organizations can help improve your business’ image. Studies have found that consumers are 44% more likely to think favorably about a business that is a member of the local Chamber of Commerce and more than 63% more likely to purchase goods and services from them.
4. Support a local charity
One of the best ways to help the community is by supporting a local charity. In addition to benefiting the community, this also allows you to support a cause you are passionate about or that fits your business. Restaurants may choose to donate day old baked goods to a food pantry, for example, or a pet shop could partner with an animal shelter.
No matter how you choose to get involved in your community, helping others while gaining exposure for your business is a win-win for everyone involved.