Ultimately, CSR should be all about the satisfaction of contributing to better another’s life. I can still recall as a child, my parents allowed me to sponsor a child in Thailand through World Vision. This act filled me with such gratitude in my young innocence, as I knew that even a small margin of my pocket money was helping this teenage girl and her family. We wrote to each other for years and she provided me with the details of how my money enriched her standard of living. An important aspect of a healthy soul is self-reassurance; to know how you are helping someone in the best way you can. For an organisation to feel as if their contribution is valid, this reinforces their need to continue this pattern of investment in the future.
If you have the financial resources and are willing to support a cause, where do you turn? For many companies with the enough means to make a difference to entrepreneurial ventures, there is a difficulty at the point of connection. Direct contact to an organisation can be unsuccessful without the sufficient contacts of the people behind the project. There are emerging groups that are connecting these causes with some of the funding (like The Funding Network Australia), however, most find it difficult to make the connection.
Also, once you or your organisation has contributed the means, you want to know your impact right? How do you know if the company that your organisation funded is using this money to better their cause?
We think that it really boils down to trust. As you invest, you trust. There is a certain corporate social responsibility that involves ensuring investments are beneficial. To ensure the funding is worth it however, you or your company should maintain communication with the group you have invested in. A healthy relationship between those who invest and those who receive is essential in the network of funding. But how do you do that – and do you have the time?
At Solve, we aim to help these community-oriented groups achieve great things by providing them with business advice. If you would like to support these groups, but don’t know how, we would be more than happy to discuss CSR relationships with you that can really make a difference.