Consumers business loans
Do you have business banking questions? Contact our knowledgeable commercial loan officers.
Giving back strengthens communities and can help businesses grow.
Our communities make it possible for us to live, learn, work and play in ways we enjoy. When we support each other’s ventures and causes, we all benefit. Here are four ways businesses can help their communities thrive.
Build alliances
One of the biggest challenges for business owners is feeling like they have to do everything alone. That feeling is an illusion. With a network of allies, owners can create mutually beneficial partnerships.
Organizations with broad membership, such as the Chamber of Commerce or Grand Rapids Young Professionals, as well associations focused on specific professions—like brewers, accountants and home builders—are filled with people facing business issues similar to yours. You can turn to them for advice and ideas. And, you can return the favor by helping them when they need help.
Another way to approach alliances is to build relationships with businesses adjacent or complementary to yours. For example, if you run an events venue, you might build relationships with caterers or transportation providers. For a deep dive on this topic, check out the article, Collaborative Advantage: The Art of Alliances, from Harvard Business Review.
As you and your allies grow your businesses, you’re able to better support your community with products, services and employment opportunities—all things a community needs to thrive.
Pitch in
Many companies support local communities by providing paid time for employees to volunteer where they choose. In addition to helping worthwhile efforts, volunteer time off programs show employees that you value what they value.
Your business might also pitch in by participating in volunteer activities as a company. A team approach takes more planning but it’s a great way to make a meaningful contribution in a single day.
Sponsorships
Sponsorships do double duty. First, they infuse needed funds into groups that range from Little League and STEM teams to theater groups and food banks. Second, they provide visibility for the companies that sponsor them. Non-profit organizations take special care to ensure their sponsors are publicly recognized.
There’s no right or wrong way to select an organization to sponsor. Some business owners follow their heart; perhaps they or someone they know was in foster care as a child and they support groups that help kids aging out of the system. Other owners seek out groups that can use their unique skillset. For example, a contractor might join forces with Habitat for Humanity. Another way to select an organization to sponsor is to poll employees.
Get involved with students
Sharing time and expertise with students is nothing new. Traditionally, tradespeople offered apprenticeships (and many still do!). Engaging with students shows them possibilities for the future, helps them understand business activities and can help develop a talent pipeline.
Consider these ways of getting involved with students:
- Career days
- Internships—for college and high school students
- Work-study programs
- Developing educational programs with schools from K-12 through university
Need more ideas?
Our employees at Consumers not only live and work in the communities we serve, we’re proud to serve local organizations with volunteer time and funds. Check out the Community Care page to see the core charities we partner with—you might identify one you’d like to support too.
Consumers business loans
Do you have business banking questions? Contact our knowledgeable commercial loan officers.