Giving Compass' Take:

• The Forbes Business Development Council details how nonprofits and businesses can maintain philanthropic pursuits while maintaining cost-effective practices. 

• How are you working within a budget on strategic philanthropy investments? In what ways has COVID-19 impacted your charitable giving? 

•  Read more about charitable giving on a budget. 

Small businesses mainly depend upon their local community for everything from talented hires to income. Giving back to the local community not only helps foster this feeling of cooperation, but it can also help build the company's brand recognition in the area.

With the change in the economic winds, businesses now have to consider the most budget-friendly ways to build their brand recognition, and several have ruled out philanthropy. However, this may be a grave miscalculation because you can do good philanthropic work even while on a tight budget. Below, 15 members of Forbes Business Development Council look at how businesses can incorporate philanthropy breaking the bank.

  1. Leverage Your Core Business
  2. Join A Nonprofit’s Board Of Directors
  3. Initiate Mentorship Events
  4. Host Events With Free Giveaways
  5. Create Programs That Tie In Workforce Development
  6. Volunteer Your Time And Help Staff Do The Same
  7. Encourage Employees To Attend Charity Events
  8. Donate Your Skills
  9. Set Up Automatic Charity Donations
  10. Reward Referrals With Donations
  11.  Match Employee Contributions
  12. Support Local Restaurants
  13.  Virtually Read To Children
  14. Help Emergency Workers
  15. Sponsor A Local Robotics Team

Read the full article about philanthropy on a budget at Forbes.