42% of British adults believe UK businesses should give at least 1-5% of annual profit to charity by law, according to research from the Greg Secker Foundation and YouGov.
The Greg Secker Foundation‘s research questioned over 2,000 British adults aged 18+ on whether UK businesses are doing enough for charities. As well as showing that 42% believe businesses should donate by law, the findings also suggest that consumers would view companies more favourably if they did so.
If consumers knew a UK business gave 5% of its annual profits to charity:
- 43% would have a more positive opinion of the company
- 20% would use this company over competitors companies
- 17% would recommend the company to friends/family
The research also found that 41% of those surveyed believe businesses should be doing more for charity as a whole. Offering pro-bono services that map back to the business’ specific area of expertise came out on top with 25% of respondents wanting to see more of this. Donating more of their profits followed with 24% and upskilling members of the community with 21%.
Greg Secker, Founder of the Greg Secker Foundation, said:
“UK businesses are already doing excellent work for the third sector, and the government’s tax relief incentives are certainly a step in the right direction. However, what these results show is there is public appetite for more, both morally and legally. Time and time again we see the benefits a thorough corporate social responsibility programme offers businesses, with the figures here speaking for themselves.
“By simply donating a small percentage of annual profits to charity, businesses are able to increase brand loyalty, positively shift perceptions, and increase their potential customer pool, all the while helping a good cause. We would just like to encourage businesses to keep the third sector in mind because helping out is good for business.”
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