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How Charitable Donations Can Help Your Business 

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Can you remember the last time you donated to charity?

While most of us like to think of ourselves as charitable people, the truth is that it can be all too easy to forget to make regular donations. 

If you are a business owner and you would like to take your corporate social responsibility more seriously, then charitable donations are a great way to do so. 

Read on to discover all the ways that charitable donations can help your business.

Reduce business expenses 

Did you know that charitable donations are tax deductible? Offering one of the simplest and most benevolent ways to lower your tax bill, each time you make a charitable donation, this can be deducted from your business taxes. 

To make sure that you qualify for this, you have to clearly itemize any charitable donations that you make on your tax return. If you are in any doubt about this, you should ask your accountant or seek financial advice. 

Improve public image 

Reputation is everything in business, so you need to do whatever it takes to make sure your public image is as attractive and positive as it can be. 

The beauty of charitable donations, or, in fact, any charitable work, is that you will instantly be seen in a more favorable light by members of the public. This can not only help you to attract more customers, but it can also help to attract more high-caliber candidates to your business. 

Boost team morale 

Do you struggle to keep your team motivated? Wish there was a simple way to boost team morale and improve company culture?

Studies show that businesses that are actively involved in charities, whether that be via donations, fundraising, or volunteering, have happier and more productive employees. 

Acting as a distraction against the pressure of meeting KPIs and generating a profit, charity work can help foster a more positive workplace that everyone can benefit from. 

Reduce staff turnover 

If you operate within an industry where staff turnover is high, such as retail or customer service, you are probably looking for effective employee retention strategies. 

Although it may not seem like much, the simple act of making a charitable donation can make your employees feel more inclined to stay and support your business. 

Furthermore, if you actively involve them in the process of choosing which charities to support, they are even more likely to remain loyal to you. 

Boost brand awareness

Every business can benefit from more awareness, but if you don’t have a large advertising budget, it can be hard to compete with bigger, more established brands.

If you are a small or local business that wants to boost brand awareness, then getting involved with a local charity is a great idea. Whether you choose to make regular donations, sponsor an event, or offer up some of your employees as volunteers, there are so many ways you can help local charities and get people talking about your business. 

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