How Nonprofits Can Leverage Business Partnerships
Business relationships can make a big difference to a non-profit organization. Whether developing partnerships for financial support, human resource (volunteer) support or product donations, nonprofits should tap into the offerings of local, regional and national businesses aiming to increase their corporate social responsibility profile and do good things.
Reaching out to corporate partners can be uncomfortable at first, but if you have a good development director, it should be a part of his or her job duties. A natural first step might be contacting local businesses, entrepreneurs and community service organizations like Kiwanis and Rotary International.
Finding avenues for business to help your nonprofit in a win-win situation is the key. While an event sponsorship might be a perfect fit for a financial institution, it might be too much for a construction company. You might ask for their help in other ways – like volunteering their employees to perform repairs on your building or to donate a crew for a day to fix up an elderly client’s home.
Another way for a business to become a valuable partner is through cause-related marketing. For example, a company donates a portion of every sale of a featured item, for a limited time, advertising their efforts and creating goodwill among the public.
Still additional avenues for businesses to get on board with a nonprofit are social enterprises and donating products or services. A social enterprise is a business venture that combines profit making with social advancement. An ice cream shop started expressly to donate all profits to a charity is one example. Another is a work training program that restores and sells used appliances, in order to fund its programs to train displaced workers in appliance repair.
For some companies, donating products or services is the easiest way to support charity work in their community. A web design firm may be able to provide your nonprofit with the new website you need—and they may do it for free or a reduced cost. Advertising, event banners, office supplies and food for events are additional ways your local business community may be willing to support your nonprofit.
Be sure to offer publicity in exchange for a business’s good deeds. Adding a logo to a banner, blasting positive posts on your e-newsletter, Facebook and Twitter and mentioning your business partners in every interview and story about your nonprofit will demonstrate your appreciation and give the company an enhanced image, which is always a good thing.
Sometimes, all it takes is an ask to start forming valuable relationships with business partners that can really make a difference to your organization’s bottom line!