Investing In Goodwill

For many small businesses supporting local charities may seem like an unwarranted expense in our current economy.

Yet, as The Los Angeles Times points out, giving can be an excellent way to spread goodwill about your company and connect with the community.

More and more businesses are waking up to the fact they want to have a charitable tie-in that makes sense for their business and helps their bottom line,” says Holly Hall, an editor at the Chronicle of Philanthropy in Washington.

Businesses must make sure their efforts are acknowledged by the nonprofits on websites, in newsletters, and at events. The support needn’t always be cash-based either, as businesses can donate free products or volunteer time with the hope of seeing returns in the future.

But be careful: you need to fit those expenses into your financial structure, so you can stay in business and continue to give the next year.

Photo by flickr.

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