Charities rely on donations to make a difference to the cause that they are trying to help. The Coronavirus pandemic had a huge impact on so many charities, with fundraising events being cancelled across 2020-2021 charities no longer had access to vital funding that they usually rely on. Charities now need our support more than ever before.
1. Giving to charity can be rewarding
Supporting your chosen charity can be very rewarding, not only is the charity benefiting from this great gesture but it will make you feel good too. Knowing that you are making a difference to such a good cause can have a great impact on your self-esteem, even if you can only manage a small donation, every little helps the cause.
As a business owner you may not have time to invest into reaching out to help others directly. A donation to charity can be another way of offering support to your community or chosen charity. Helping others is human instinct and it can empower you knowing you are having an impact on the lives of others less fortunate than you.
2. Giving is better than receiving
Don’t get me wrong we all love receiving nice gifts but the older you get the more you realise how nice it is to give. Seeing the look on someone’s face when you make a nice gesture and knowing how that makes them feel makes a massive difference to your happiness. The same goes for giving to charity. If you’re a UK taxpayer you can ensure that your chosen charity gets the full amount of the donation by ticking the box for gift aid. Gift Aid is tax relief for charities for every £1 you donate the government will give 25p to cover the tax implication.
Have you heard of the payroll giving scheme? If you are PAYE you can donate to a chosen charity from your salary before tax is deducted. This guarantees your charity receives a payment from you each month and you don’t even have to think about it! It’s a great time saving option, we know how hectic our lives can be!
3. Encourages others
Setting a good example to others, especially the younger generation is something that we all try to instil into our lives. Showing your generosity and giving to charity is a great way to do this. Discuss this with your children and tell them the reason why you do this. Give them an understanding of the impact a small donation can make to others lives. The earlier they learn to appreciate the positive changes that can come from one small gesture, the better the world will be!
Creating fundraising events as part of your business can be fun and a great team building exercise too. Bring your employees, clients or potential clients together to help raise money for a good cause. This is great for business and for your team morale, not forgetting that you’re also helping your charity too.
5. Tax relief
If you’re a Limited company you will pay less corporation tax when donating to charity. That’s a win-win situation don’t you think?