Now’s the time of year when your philanthropic heart might be beating extra loudly. The holiday season presents many opportunities to participate in charitable giving to better your community, contribute to meaningful causes, generate positive awareness about your company, and more.
If you’re interested in donating to charity on behalf of your business, consider this advice about how to approach charitable donations and how much your small business should donate to the causes you care about.
The basics of charitable donations for small businesses
Each small business represents different communities and different interests. Still, there are a few basic steps to follow to maximize the benefits of donations to charity:
- Consider your values: There are hundreds of thousands of charities around the world. Each of these organizations have different missions, goals and services areas. Take time to find a charity that aligns with your values. Think about causes that you are passionate about, like the environment or feeding the hungry, and find organizations that are working on those issues.
- Research charities: Before you choose an organization to give to, do your research. There are many sites that you can use to learn more about the financial history of organizations and their operational structure. Browse the organization’s website to find out what kind of work they do and how they benefit the community.
- Incorporate charitable giving into your business’ mission: Giving to charity offers so many benefits for small businesses, and you can make philanthropy a part of your business’ mission and core values. Plan regular giving and commit to volunteer opportunities along with your employees and team members to emphasize charitable giving as part of your identity as a small business owner.
Deciding how much to give
Many business owners wonder how much they should give to charity, but there is no single amount that’s best. Charitable giving is ultimately about supporting your community and contributing to causes that matter to you (and your business). Take stock of the resources you have and determine how much you are comfortable donating to the organization(s) you select.
You can also support organizations working on issues that matter to you by volunteering with them. When you volunteer, you get to support organizations that you care about and network with other people in the community who share your interests and concerns. It’s also a great team-building exercise.
To maximize the potential impact of your business on your community and improve your ability to give to the causes you care about, you need funding solutions that help you achieve all of your small business goals. When you contact Tenet Financial Group, you will receive customized funding consultations and services from an experienced team of professionals. Find out about all of the different funding options that we have to offer by giving our team a call or contacting us online.