When we think of stretching your dollar whether in business or in our personal lives, we typically think of decreasing cost. While this is important, another way to stretch your dollar is to look at where and with whom you are spending your money. Not all businesses are created equal. When it comes to doing business, as well as personal expenses did you know small businesses donate 250% more than larger businesses to local non-profits and community causes!
The Importance of Giving to Charity.
I know myself personally, I go out of my way to find small businesses to spend my money. However, when there are multiple choices, I go with the one who I know gives back to charity, or the community. Recently, I decided to do Invisalign. Since I had already had Invisalign with a local orthodontist years ago, I was planning on going back to that orthodontist. However, when I went to my regular dentist for my routine cleaning, I saw an advertisement with pictures of her trips to Africa where she traveled and gave back with the organization Free to Smile Foundation. Because of this, I decided to go to her for my Invisalign to support her business. Additionally, I would not have known this had she not had pictures in the office and a book set out with information on the organization.
85% of consumers have a more positive image of a company who gives to charity.
90% of consumers want to know how companies are supporting charitable causes.
So, as an organization, I encourage you to give back what you can and make sure you show your customers and prospects how you give back. However, it does not have to be something huge either. In my own business we would give a percentage of sales to help women in Africa. Furthermore, we set aside a flat fee each month, serve on the board of a nonprofit and show this on our website.
Smaller business sometimes can give you better support!
I have also found that dealing with smaller companies gives us better customer service. Customer service is lost oftentimes in our world today. Employees are tired of working long hours for little pay and it can show in their dealings with customers. Small businesses are more likely to feel the pinch if they lose you as a customer, so you are automatically more valuable and often get better results from your transactions with them. And although it has been shown large employers can pay employees more and have better benefits, employees from small businesses are happier, have more growth potential, and offer more flexibility which translates to better work life balance.
Employees at companies with fewer than 25 employees reported happiness scores that were on average around 50% higher than workers at firms with 151-300 employees. (BambooHR)
43% of small business workers say they feel happy at work while only 27% of their peers at large bhiness report the same. (Lendio)
So, spread happiness! Do business with small businesses!
Where can you start?
Here are some ways My Junna supports small business and gives back. You can use this as a guide for things you can do to give back!
- Use a small woman owned firm for all marketing material
- Small business used for website
- Founder is on the board of CG Woman Empowerment and gives money monthly, bringing change for women in Africa to become self-sufficient and empower them to create change in their families and communities
- Employ a local small business for payroll support
- Consider individual consultant for branding
- Use local small business for tech support
- Consult with individual small woman owned business for legal support
- Use local small business for financial and retirement for employees
- Use local water supplier for office water needs
- Go to Etsy for marketing material to support small business
- Use a local woman small business for business insurance needs
- Buy gifts for customers at local or small businesses
Ways in which the founder and employees give back and use small business.
- Use local woman owned dentist for dental needs (she gives back to charity)
- Go to local coffee shops instead of Starbucks
- Shop Goodwill
- Donate to Go-fund-me for animal charities and private fundraisers
- Eating out at small local restaurants versus chains
- Shopping at farmers market
- Purchasing items at the grocery that are locally made. I am thinking of Frog Ranch Salsa made in Columbus Ohio even though it is sold at larger chains
- Use local brokers for auto insurance and personal insurance needs
Nonetheless, I hope this gives you some ideas on how to stretch your dollar. Certainly, if I am going to spend $100, I would rather that $100 go towards others who are either giving back or supporting themselves and/or family and community. Ideally, all the above!
References
Score (2024). Small Business Charitable Giving – Big Impact on Local Communities. Retreived from https://www.score.org/resource/infographic/infographic-small-business-charitable-giving-big-impact-local-communities#:~:text=Small%20businesses%20donate%20250%25%20more,non%2Dprofits%20and%20community%20causes.
Mosteller, A. (2023, February 14). Small business employees are happier. Lendio. https://www.lendio.com/blog/small-business-employees-happier/
Employee happiness erodes in Q3 as the Great Gloom continues. BambooHR. (n.d.-a). https://www.bamboohr.com/resources/guides/employee-happiness-q3-2023
