As someone involved in small and medium sized businesses, I understand that current economic conditions coupled with time constraints often mean that charitable giving falls to the bottom of the to-do list. For me, helping others is a personal priority that I am very passionate about. In fact, it’s one of the reasons I agreed to co-chair the United Way of Greater Milwaukee’s 2008 Community Campaign.
If you need more tangible reasons, however, consider that it’s good for business. Here are five reasons why giving to charity is good for your bottom line:
(1) Community Goodwill: When you donate to charity, you enhance your company’s image and reputation, increase customer loyalty, and bolster your ability to attract and retain employees. In addition to a corporate donation, you can multiply your company’s goodwill by considering strategic charitable donations like sponsorships, matching grants and allowing employees to volunteer during work hours.
(2) Give and Receive: Companies receive more than just goodwill for their good deeds. Last year, the national research firm Yankelovich released a report that proved businesses that get involved with charity also profit financially. Ninety-three percent of consumers believe that American businesses have an obligation to improve the social and environmental impact of their products and services. When price and quality are equal, 76 percent of consumers would switch brands or retailers to a company associated with a good cause. More than half of consumers (60 percent) agree that it is "right" to make purchases as often as possible from companies that support charitable causes in their local community.
(3) An Economic Boost: Giving to an organization like United Way that is addressing so many of the critical issues affecting our city, strengthens the economic viability of the local market which benefits local employers.
(4) Tax Benefits: While traditional cash and check donations are still the main currency for charitable donations, stocks, bonds and planned gifts are options which also carry significant personal tax benefits.
(5) Filling the Talent Pool: A successful business requires a talented staff. By contributing to charities like United Way that support education for youth and job-training for adults, you are helping increase the number of qualified candidates available to your business.
Whatever your motivation, please consider giving and, when you do, realize that a contribution to charity is an investment that pays a positive return to you and others. United Way is an efficient and effective means of contributing to a wide range of needy causes as evidenced by the third-party endorsements it has received from BBB Charity Seal and a four-star rating from Charity Navigator.
There are over 75,000 small businesses with 250 employees or less in the Milwaukee area. If every business gave what they could, the result would total millions of dollars toward building our community and improving the living circumstance of thousands of individual every single day.
Please consider a gift to the 2008 United Way Community Campaign.
David Lubar is president of Lubar and Company in Milwaukee and is a campaign co-chair of the 2008 United Way of Greater Milwaukee. To donate, visit www.unitedwaymilwaukee.org.
