As a nation, we are very generous with one of our most precious resources: money. In 2020 alone, Americans gave $471 billion to charities. And with over 1.54 million charitable organizations (in our country alone) to choose from, it’s not hard to find a worthy cause.
Many small businesses also encourage their employees to give their time and talents by volunteering locally. Small businesses often give more than their big business counterparts— 75% of small business owners give approximately 6% of their profits to charities every year.
Let’s be honest, when it comes to building a profitable business, the learning curve is steep.
Navigating the new terrain will be easier if you focus on the right goals from the beginning. And one of the most important goals is to focus on is how profitable your business is.
Focusing on profitability will help to prevent your dreams from becoming a cash flow eating nightmare.
Read MoreIf you’re one of the lucky ones who continued to grow throughout the pandemic, you may find that your business has extra money in the budget as you’re doing your year-end financial reckoning. This can be a good opportunity to pay yourself more, increase the stability of the business, or invest back into the business.
It can also be a great opportunity to give back to your community and say thanks. If you’re feeling so inclined, here are six ideas for how to give thanks with extra money in your budget this year.
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