Thanks to technological advancement, more and more people are looking forward to enjoying a sense of connectivity and belonging with their society by connecting with people on an individual level.
No wonder many people are quitting their jobs at big companies to have their mini ventures. In 2021 alone, 32.5 million small businesses were registered in America. At the same time, more than 1.5 million non-profit organizations are registered in the U.S to date.
Using the word charity with business might feel awkward but believe it or not, both charity and small businesses serve as a backbone to any society. You might not have thought about it, but charity and small businesses have a lot in common. Here are eight similarities between charity and small businesses that can make a big difference as a whole.
1. Help Community Growth
For the progress of any society, its people need to know each other. More importantly, understand the importance of individualism and learn to use it as an asset instead of making it a liability for society. Both charity and small businesses promote community growth by bringing people closer to each other. They allow individuals to understand the needs of their fellows and help make generalized decisions that are beneficial for all. They develop a sense of shared responsibility among people that work in favor of a society in the longer run.
2. Community Financial Support
Due to the increased involvement of robotics in industries, people are losing their jobs. Many large companies invest millions in developing machines that can work at a better speed and efficiency than humans. These advancements are helping companies improve their bottom line, but those profits come at the cost of eliminating jobs. This is where small businesses and charity comes to the rescue.
Both small businesses and non-profit organizations need employees or volunteers (in the case of charity organizations) to run their fairs successfully. Although these employees don't make millions, they get paid for their services, eventually helping them survive.
3. Help Circulate Money Within A Society
Another similarity between charity and small businesses is that they help circulate the money while keeping it within society. To explain this better, small businesses typically support other small businesses.
When non-profit organizations are on a hunt to donate or collect, they also reach out to locals within their reach. They take money from those who can donate and give it back to those in need.
4. Help Prevent Monopolies
Without the competition that small businesses create within just about any industry, large companies could potentially become a sole provider of products or services in any given niche. Similarly, charities work to close the gap between individuals within a society. Both small businesses and charities empower individuals to share their resources in a more responsible manner.
5. Promote Innovation and Creativity
Big companies require a lot more capital and risk to try new things. Small businesses and charities have an easier time pursuing new ideas, as they are simply smaller in scale. Both types of organization have the privilege to experiment and be creative with their ideas.
Entrepreneurs try to work with more personalized, unique, and in-demand products to have a sustainable business. Similarly, charity organizations make money by introducing showstoppers to raise maximum donations in minimum time.
6. A Source of Identity for a Community
Another thing that non-profit organizations and small enterprises have in common is that they serve as a society's identity. Locals own and run most small companies and charitable organizations, which provide services and goods needed in their community. For example, a non-profit sewing facility may work with a local clothing business to provide the most individualized clothes that reflect society's culture and diversity.
7. Promote Generosity in a Society
Society consists of individuals sharing similar thoughts, ideas, and beliefs. Charity and small businesses are somehow dependent on the support they get from the locals. They both encourage people to help each other develop without expecting favors in return.
8. Strengthen Individualism
Non-profit organizations' main goal is to assist and empower individuals within a society. Similarly, small enterprises give individuals the opportunity to share their unique ideas and abilities with the rest of the world. Thanks to the internet, anybody can establish a business from the comfort of their own home.
To summarize, small enterprises and non-profit organizations are two branches of the same tree. They both operate in the individual's favor and have a favorable influence on society. At Altruistic Joe, we take great pride in giving back to worthwhile causes that need our support, which is why we’ve pledged 20% of all net proceeds to a variety of charities we are passionate about. With each purchase from our online store, you are making a difference! Visit our online shop to see our current offerings.