Giving Is Receiving - Importance of Giving for Prosperity
Acts 20:35 "It is more blessed to give than to receive."
These famous words were quoted by the Apostle Paul in his address to the elders of Ephesus when he explained to them the importance of working hard to provide for your own needs as well as to help those in need.
The importance of giving for prosperity is paramount in business. We as entrepreneurs and business owners have a responsibility to work hard to sustain our operations and also to be generous and invest a portion of our revenue into strengthening our communities. This is not only what God expects of us but has several flow-on benefits both for our businesses and society as a whole.
Generosity as a Principle
The principle of generosity—as expressed in the verse cited above—is that giving has benefits for the person who gives as well as for the person who receives the gift. In business, being generous leads to greater abundance and creates a cycle of prosperity.
Direct Benefits of Giving for Businesses
The principle that "giving is receiving" manifests in businesses in several ways:
Giving improves your health. Research has shown that generosity can lower blood pressure, reduce stress, and even extend your lifespan. Better health means you have more time and energy to put into your business.
Giving makes you happier. It's a well-known fact that giving makes you feel good. Why? There are several reasons for this:
Giving generates a sense of contentment.
Giving provides a sense of empowerment.
Giving leads to a sense of optimism that the world really can change for the better. This, in turn, can reduce anxiety and stress.
Giving helps you feel like you're part of something bigger than yourself and your business.
Interesting to note: Employees who are happy are more productive and make fewer mistakes. Increasing happiness through giving can transform your company's culture, boost employee performance and customer satisfaction, and ultimately improve your bottom line.
Giving improves relationships. Generosity makes us more compassionate, increases our social connectedness, and improves our relationships. Getting involved in community projects and initiatives builds relationships with various people and organizations. You never know when one of these contacts might come across a valuable lead or opportunity that could prove pivotal for your business and reach out to you because they know you're a business that cares.
Blessing Others: Flow-on Benefits of Giving
Small business and corporate giving have a ripple effect in the wider community, too. The GOTS-certified business Bergman/Rivera, for example, is helping more than 90 farmers and their families and reviving endangered cotton species through its community-based organic cotton initiatives in Southern and Northern Peru. The thread, fabric, and clothing produced are then sold at a great price to markets in Asia and Europe.
This business's example shows that it's possible to use business endeavors as a means to empower individuals and even communities and restore the natural environment. Knowing what is possible inspires others to do the same. If we take a divine perspective of our purpose as business people rather than a simply material one, we can see that "business success" in God's eyes has just as much to do with how the business contributes to the well-being of others as it does with the business's net profit margin.
How to Give as a Business (with Examples)
The best way to enjoy the rewards of business giving is to make a strategic plan.
Ways to Give
A business can give in the following ways:
Provide discounted or free goods and services to a certain number of eligible recipients each month. You might consider donating a higher number of free items to those in need during humanitarian crises and natural disasters.
Donate a certain percentage of your gross or net revenue to a pre-selected charity or group of charities.
Reinvest your profits in community projects.
Give a certain number of volunteer hours to a local charity every month (this could include activities from planting trees to providing business expertise to a non-profit organization for free).
Serve on the board of a non-profit organization in your spare time.
How Much to Give
Determine a budget for your business giving. The following are a few examples:
Habitat for Humanity has a tithe program in which its U.S. affiliates are expected to give 10% of their unrestricted revenue each year to support the organization's global projects.
Faerie's Dance—a sustainable clothing website—gives 1% of its gross revenue to three charities that are working to protect and restore the environment.
The Aerial, BVI—a wellness resort in the British Virgin Islands—has a Giving Shop in which all of the purchase prices are gifts and 100% of the money spent at the shop goes toward helping veterans heal, aiding with disaster response, and ending human trafficking.
How to Select Your Recipient(s)
When choosing charities and initiatives to support, be strategic and choose a few that are in line with your values and business and/or represent a significant need in your community. These charities or initiatives might be local, statewide, national, international, or a mixture of all four.
As an example, a bakery or restaurant business may find it meaningful to support "food for the needy" and "micro-business skills for women-at-risk" projects. You could select two to five charities that tackle issues of hunger or food service skills from different angles and at different levels to diversify and maximize your impact (similar to the way investors diversify their investment portfolios).
Partner with Faith-Based Financial Experts
In order to give, you first need to learn how to earn and manage your finances effectively. Bookkeeping and accounting professionals can put you on the right path to the responsible handling of your income so you will always have plenty to give.
Our team has spent many years helping small businesses create a solid financial foundation along with plans and budgets for how best to invest their revenue. Join our community and request details about our membership options for tailored support to help you reach your faith-inspired earning and giving goals.
Opening Your Arms Puts You in a Position to Receive
Business giving may seem counterintuitive when you're barely (or not yet) breaking even. However, embracing the principle that "giving is receiving" right from the start has multiple benefits for your team and your community and puts you in a stronger position to receive over the long term.
A great gift from your business's perspective could look like donations of money, stocks, discounts on goods and services, volunteer time, or a combination of these. Be assured that everything you give with a sincere heart will bring an abundance of blessings in the end!
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