How To Improve Your Business Philanthropy In 2023

As a business, it’s important to be seen to help others. Whether it’s to provide your business with a reputational gain or you’re keen to support local communities, getting involved in business philanthropy is certainly useful to do as much as possible. From small businesses with little funding to those that have endless, deep pockets, it’s good to do what you can to ensure your company is doing its bit. With that in mind, there are plenty of ways to help increase your business philanthropy in 2023.

Look at how much time or money you’re able to invest

For your business, you may want to consider how much time or money you’re able to invest into each philanthropic venture. It’s not all about money after all, especially if the project you’re looking to work with requires volunteers over anything else.

Take a look at what your business can offer in both finances and resources, making sure to spread this available resource as far as possible. The more people and organisations you can help, the better for those who are fortunate enough to receive it. Of course, this might change from one year to the next, so it’s always good to review the projects or initiatives you’re helping out with once the new financial year begins.

Get your employees involved where possible

It’s good practice as a business to ensure your employees are involved with as many business-related activities as possible. The benefit of having employees eager to get involved is that it’s more hands on deck. 

When it comes to business philanthropy, find ways for your employees to get involved. It could be that they help out with any local charity work or they actively take part in charitable events that assist these organisations in the best way.

Look at what other businesses have done in the past

Your business should be looking at what it’s done in the past but also what other businesses have done successfully when it comes to philanthropy. You may have only dipped your business toes so much into this world, but you may benefit from understanding what others have done and achieved.

There’s always going to be a need for businesses to get involved with those who need help. Whether that’s providing finance, assisting physically or delivering essential resources that the organisation might not have, like free marketing for example.

Creative theft is always a great thing to do as a business but when it comes to philanthropy opportunities, sharing is caring for the greater good. By looking at what your competitors have been up to, your business can also contribute to the same initiatives.

Lead with passion and a genuine desire for change

It’s important to focus on what it is you’re trying to achieve with business philanthropy. While it may be good exposure for the business and a boost for the reputation, it shouldn’t just be about that. In fact, at the forefront of every philanthropic campaign should be a passion and genuine desire for care and change.

There are a lot of problems in the world right now and while you may not be able to help with it all, as a business there are small contributions you can make. With that in mind, try to lead with passion and a desire to help make good for those you help out. Focus on what it is that you can provide and benefit them, rather than it being all about benefiting the business.

Focus on underserved communities and industries

As a business, it’s important to pay attention to all those out there who may be underserved. For example, you may have local communities that aren’t getting much of a look-in when it comes to local funding. Therefore they rely on the goodwill of others, including local businesses.

There may be certain industries that aren’t performing well and need some assistance. Try to help those who are more underserved and not as supported as others may be. While they all need help, it’s good to help the little ones who aren’t always getting a look in.

Build a strategy and timeline for your business philanthropy

Finally, make sure you’ve built up a strategy and timeline for your business philanthropy. Consider what goals you’d like to achieve over the year and perhaps over the long-term course of five or ten years.

For as long as the business is going, you should always be looking at ways to help improve your philanthropic efforts where possible.

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