Giving back not only helps the community but also provides a lot of benefits to the business, too. A report says that 70% of people are attracted to a business that is passionate to give back to the community or provide donations to a charity. The reason why business leaders are focused on charitable giving is to improve their business reputation and brand image in the market. Giving back is the best and most powerful way to increase the company’s sales and overall purpose.
Here are some reasons why business leaders focus on charitable giving:
When the business is passionate to offer charity to their community then it can help in boosting the employee’s morale in the office. Leaders are well aware that if their business offers corporate donations then the employees in the business will also try to get involved in supporting their business’s cause and it will create a positive work culture in the office. Employees feel more satisfied in a business that focuses on giving charity to those in need.
When a business provides donations to a non-profit organization or a charity on a regular basis then its reputation grows rapidly and more and more people start noticing the business. Leaders know that philanthropy work through business can improve the business reputation in the market and that can help to attract new customers to the business. Also, you will not need any extra effort in promoting your business because your customers will do that for you by recommending your business to others.
Well, this is one of the best benefits of giving charity to non-profit organizations. When your business offers donations to different charities to improve the community and make it a better place to live than as an appreciation, the government offers a tax deduction for every donation through your business. This is the government’s way to recognize your good deed. This means that the more you donate through your business, the greater tax deduction you will receive. But to achieve this benefit, you need to follow some guidance provided by the government.
It’s good for your community:
Charitable giving helps your business to grow more and it helps the community. It can help to grow the local shops in the community, to let them get proper education, medical facilities, and the funding provided can help offer a lot more opportunities to make the community much better.
Sam Mizrahi Toronto is the president and founder of Mizrahi Developments and a proponent of charitable giving in Toronto. His recent project is called The One and he is a big part of The One’s development. Most recently it was announced that Mizrahi Developments had formed an agreement with Hyatt Hotels Corporation to build a 185-room luxury Andaz hotel in the tower.