Brits favour businesses that give to charity
More than half of consumers polled in a recent survey said businesses should be required by law to donate a proportion of their profits to good causes.
Social development charity, the Greg Secker Foundation, has investigated public opinion on whether UK businesses are doing enough for charities. Its survey of 2,000 UK consumers found that 41% of people think UK businesses should be doing more and 54% believe UK businesses should be required to give a percentage of their annual profits to charity by law.
The results also show that many UK businesses are missing a trick by not focusing more of their efforts on philanthropic activities. The findings show that donating a small percentage of annual profits to charity would significantly better the image of the business to consumers.
If consumers knew a UK business gave 5% of its annual profits to charity:
- 43% said this would give them a more positive opinion of the company;
- 20% would use this company over competitors;
- 17% would recommend the company to friends and family.
Donating a percentage of profits isn’t the only option for businesses - 41% of those surveyed said businesses should be doing more for charity as a whole, including offering pro-bono services (cited by 25% of those polled), donating more profits (24%) and upskilling members of the community (21%).
“UK businesses are already doing excellent work for the third sector and the Government’s tax relief incentives are certainly a step in the right direction,” said Greg Secker, founder of the Greg Secker Foundation.
“However, what these results show is there is public appetite for more, both morally and legally. Time and time again, we see the benefits a thorough corporate social responsibility programme offers businesses, with the figures here speaking for themselves.
“By simply donating a small percentage of annual profits to charity, businesses are able to increase brand loyalty, positively shift perceptions and increase their potential customer pool, all the while helping a good cause. We would just like to encourage businesses to keep the third sector in mind because helping out is good for business.”