Social responsibility determines an array of benefits that businesses of all sizes can receive. But if you’re a small entrepreneur, the stakes might be even higher for you.
With so many movements rising to tackle both small and large issues, studies have found that millennials are much likely to switch to a new vendor if they’re linked to a cause. In addition, it brings in new customers, gives an opportunity to network, and also makes you and your employees happier.
Of course, having tight budgets would hinder the option to be philanthropic, so we’ve listed some pro tips to stick to your expense plan and still be able to give back. Yes, it is possible! So, read on without further ado.
Have a Game Plan
Gorodenkoff/depositphotos: Brainstorm new ideas with employees
Have some time allocated in your monthly team meetings to brainstorm ideas for how your entity can make the world a better place. Encourage employees to come up with solutions that are beneficial to both the business and the planet. For example, switching to e-invoices would help save ink and paper costs while protecting the environment too!
Everyone Loves Volunteers
Wavebreakmedia/depositphotos: Volunteer for a cause
Even Fortune 500 companies use this method – offer paid time-off to your employees so that they can volunteer at a charity. Their experiences could be shared via the company’s social media channels and inspire millions of others. It’s bound to bring in new customers who share the same values as you.
Support Other SMBs
This is easy and definitely rewarding—support other local and small businesses around you. Not only is it great for networking and collaborations, but it also expands your customer/follower base exponentially.
Sharing Is Caring
Wavebreakmedia/depositphotos: Give back to the community
Your talent, ideas, and expertise are valuable beyond measure. Put them to use even after working hours by volunteering for a local non-profit or hosting workshops on a specialized skill for a nominal fee or free of charge.
Sponsor That Event
A local beach cleanup, food fair, or a sports event would bring the community together. Opting to sponsor an event like this would give you great publicity and is sure to stick in the public’s memory in the long run. You’d definitely be a preferred vendor without investing much time or finances.
Run a Charity Drive
This one’s a great way to inspire giving back with minimum cost to you. Launch the drive, and see how the community will rise up to the challenge. You’d be surprised! A food drive for the needy or a book drive for a kids’ shelter is a great idea.
A Little Goes a Long Way
The key is to be consistent in your giving. You shouldn’t be making million-dollar donations; just set aside a small percentage of your profit each month or annually, and it is bound to make a difference.
These tips would help your business get recognized as a benefactor in your locality, and the ripple effect is sure to bring in more revenue. All of this, while making everyone’s lives better!
