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How Your Small Business Can Start Giving Back

corporate giving.jpg
Social Responsibility and Giving Back have been hot topics for small businesses for several years now.

Whether it’s from social pressure or a sincere feeling of duty, the addition of this initiative into a business model can be troublesome when considering costs and execution. Studies show that corporate virtue in the form of social responsibility and, to a lesser extent, environmental responsibility, is likely to pay off. In fact, market research by Cone revealed 91% surveyed said they are likely to switch brands to one that supports a good cause, given a similar price and quality. There are also many other benefits to a local business giving back to its community; such as:

  • Building a good reputation
  • Employee moral and respect
  • Expanded networking
  • Loyal customers
  • Positive press

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Why Should You Care if a Local Small Business Succeeds?

Why you should care if a local small business succeeds
According to Intuit Canada, 15% of new start-ups fail in year one, while 50% won’t be able to celebrate a five year anniversary. Knowing this, should you feel a sense of protection for the new shop that just opened up down the street? If you didn’t invest in the venture, you have nothing to gain or lose, right?

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