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4 Ways to Give Back to Your Business' Neighborhood

If you run a local business within a small suburb, you are an integral part of the neighbourhood. It goes without saying that you serve your community in various ways with the products or services that you provide. But if you want to expand the ways that you support your community, or go one step further, perhaps it’s time to give back to your neighbourhood in other ways too. And you might be thinking how you can do this.

It’s not always easy to be charitable, particularly with your everyday commitments taking over. It’s even more difficult to know where to begin. But if you have been searching for ways to be philanthropic, there are a number of methods you can adopt when trying to support and give back to your business’ suburb. Some might be more suitable than others, so read this quick post to find out 4 ways to give back to your suburb.

How Does a Community Enterprise Enable You to Give Something Back?

A community enterprise is a sustainable business that makes use of commercial approaches to confront and improve the social challenges within the neighbourhood. The primary focus of a social enterprise is to tackle these social issues by making a profit which is mainly used for the purpose of of funding a social program. But how can you launch a social enterprise with your business?

There are a few steps involved when trying to start a social enterprise. For instance, you will need to consider which social issue you would like to focus on, which market you would like to enter, and which business model is most appropriate for your social enterprise. These steps are important, as is securing funding if you are a business just starting out.

Launching a social enterprise is a good way for your business to both make a profit and give something back to your neighbourhood, but there are also many other strategies that you can choose from in order to support and improve the suburb.

Committing to Community Partnerships Helps Your Business’ Suburb

Being a local business that involves itself in the community via community partnerships is a top way to give back. Not only can you reap bonus points due to your social commitments, you can watch your local suburb benefit in various ways – from economic gains to resources and education, a local community partnership can benefit both your local business and your neighbourhood.

Be wary of the fact that the purpose of your community partnership should align with or match the community group you are seeking to partner with and should share some commonalities and common ambitions. You should also ensure that you consider the depth of the partnership and the amount of time you are willing to dedicate.

Partnering with your local community can consist of a range of options, which include volunteering your time, providing educative services or mentoring and donating money to charity.

Is a Corporate Social Responsibility a Good Way to Give Back?

The short answer is, it is. A corporate social responsibility (CSR) policy is a great way to give back to your community for various reasons. Through a corporate social responsibility policy you can achieve employee satisfaction by offering your staff new and interesting opportunities, but you can also give back to your community, with funding, volunteering and supporting community groups being good ways to engage with your local neighbourhood.

As described by Jack Richardson-Cooke in ‘Corporate Social Responsibility: Benefits for Business and Community’, ‘CSR programmes provide an opportunity for corporations and companies to engage with communities across all levels of society’, and they are a great way for businesses to involve themselves more deeply in their communities.

Philanthropic acts such as volunteering go a long way to giving back to your neighbourhood, and as mentioned by corporate-responsibility.com.au there are plenty of great instances of ‘small businesses throughout the world practicing the principle of CSR in a very real, practical way’.

Why Are Fundraising Events A Great Way to Give Back to the Community?

Getting involved with fundraising for charity involves your business with the local community, which is why it is a good approach to giving back. There are a range of causes that require local business support within your suburb, from supporting foodbanks to raising money for disadvantaged individuals, so taking the time to research and decide which cause best aligns with your business is a good approach to commence your fundraising efforts.

Giving back to your local neighbourhood as a business requires time and thought, and knowing where to start is often one of the most challenging aspects to giving back. But with these ideas, you will soon find yourself contributing to your suburb. Remember to consider whether your business goals align with your philanthropic efforts and think about your level of commitment too.

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