Whether big or small, companies nowadays do not only focus on profits. As the world modernised, the expectation of everyone in businesses also changed. Most people today expect brands to listen to customers and take a stance on current events, especially global issues. That is where CSR activities in Singapore will come in.
The acronym in CSR activities refers to Corporate Social Responsibility. Performing them is the only way that businesses can meet the public’s expectations.
If you plan to create a CSR program for your business in Singapore, here are the benefits you can expect to gain over time.
1. Builds Public Trust
Philanthropic acts like planting trees and supporting the education of orphans can help earn and build public trust. You should know, however, that earning trust does not happen overnight. You have to do CSR activities as often as possible to gain it.
2. Presents Press Opportunities
The more you perform CSR activities in Singapore, the more chances that the press will share your goodwill with their readers. This kind of exposure can help raise brand awareness.
3. Better Employee Morale
Your employees will have better morale when your business has a good reputation. They will become more proud of where they are working.
4. Increases Profits
Once more people have learned about your CSR program in Singapore, 66% of consumers would not mind paying for your products or services, as stated in the NielsenIQ report.
5. Donations Are Subject To Tax Deductible
There is little to no tax involved in a relief donation in Singapore. However, the tax deduction is only applicable to approved donations. Check out IRAS to know what they are.
6. Widen Connections
Besides a tax deduction for a donation in Singapore, businesses with CSR programs can also widen their connections. Companies with CSR programs tend to partner with a business that has the same mission and vision to raise brand awareness.
Now you know how beneficial CSR activities are to your business, consider starting your campaign today. Raise a charity by engaging with a reliable organisation in Singapore, like Singapore Children’s Society! Visit their website today!