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New research shows that the more small-to-medium sized enterprises (SMEs) give to charity, the better their business performs. On average, SMEs give 1.8% of their turnover, equivalent to around $44,000 a year. SMEs that give more than 0.5% turnover are 20% more likely to see an increase in profits, twice as likely to report benefits to company reputation, and almost 50% more likely to improve recruitment and staff retention.
Not all SMEs are aware of the benefits, with 1 in 3 SMEs (30%) avoiding charitable giving because they fail to see any benefit. But, there is hope — 44% of SMEs would give more if they saw a direct benefit.
The research marks the launch of a new giving platform, Work for Good, which enables businesses to give to good causes in a way that’s good for business too.
Read the full article about how charitable giving helps small businesses by Api Podder at My Social Good News.