Is giving back to your community beneficial to your company?

Doing good is just as important as doing well, if you want people to respect your brand and your company.
Entrepreneurs and philanthropists such as Bill Gates earned the admiration of many for transforming their billions into charity. By investing into your community, you show people that you care about their welfare.
Many large companies have incorporated into their marketing campaigns funds geared towards impacting positively their communities. Small businesses have the advantage of being involved in the community and can raise their statures through involvement with local causes.
Although Corporate Social Responsibility (CSR) is not legally required from companies in Kenya nor does it have any significant tax relief for SMEs, it has a lot of benefit in enhancing brand visibility and gaining financial resources.
Specifically giving back can:

  1. Earn you respect and a good reputation within the community. When businesses help other people, they indicate that they care, they listen and they are one with you. The people in return commit to the company and its offering.
  2. Earn respect from your employees. Employees respect leaders who do good. Working for a company that is associated with positive transformation can improve employees’ regard for their corporate leaders, and motivate and commit them to the vision of the company.
  3. Connect and network. The most influential people in the society often belong to philanthropic organizations. Organizations like Rotary International, is one of the most charitable organizations in the world and is mainly composed of prominent people. Becoming a member of these organizations can bring you invaluable contact to grow and sustain your business. Remember your network is your net worth.
  4. Earn you brand recognition and indirect advertisement. Organizations that participate in local fundraising events get an added benefit of marketing their names and businesses. Having your organization’s name and/or logo printed on signage, t-shirts, facemasks in this era of Covid-19 or other marketing materials is a great way to advertise and enhance brand recognition within the community.
    In Kenya, there are many charitable organizations you can partner with to give back to the community. From a road development kitty, to creating a local children fun area, or even donating to a local women’s group, the opportunities are plenty.
    “At the end of the day it’s not about what you have or even what you’ve accomplished… it’s about who you’ve lifted up, who you’ve made better. It’s about what you’ve given back.” ― Denzel Washington

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