I’m a big believer in giving back to the communities we do business in, but is it also good for our small businesses bottom lines? I believe so! Giving back to the community can raise your business' profile and even bring you more customers or clients.
According to Umair Haque's article from Harvard Business Review, Why Betterness is Good Business. “Striving to do more good is associated with greater profitability, equity and asset returns, and shareholder value creation.” And he believes these new business models will help build companies with a purpose, and a mission that is truly understood by their customers.
And as successful members of the community, we have a responsibility to help those that are less fortunate and contribute to the common good. I really enjoy the intangible benefit of giving. Giving back to the community gives me a wonderful feeling of connectedness and the satisfaction of at least trying to make my small corner of the world a better place.
I think customers like patronizing businesses that give back and I believe that giving back has helped my firm move forward!
Have you found ways to give back, would love to hear from you.
–Ann Byne, Principal, The Byne Group