Starting your own business gives you flexibility and freedom – and it’s also a great way to give something back
By Jacqui Paterson
When Isobel Thompson’s twin daughters were born 10 weeks premature, she was overwhelmed by the care they received from the Special Baby Care Unit at her local hospital in Milton Keynes.
Happily her girls are now healthy eight-year-olds, but Isobel, 47, has never forgotten the support and care they received. So when she and Kate Frankland, another mum she met in the SBCU, started their own baby hoodie business Morrck, they were determined to donate a chunk of their profits to help the multiple birth community.
Today 10 pence of every online sale is donated to the Twins and Multiple Birth Association.
‘It’s really important for me to give back and help other parents going through the same things I went through,’ Isobel says. ‘I know I’m making a difference, and that feels great.’
Last year the money the company donated was used to publish a booklet to prepare multiple birth parents if one or more of their babies needs neonatal care.
‘Having experienced life in the special care baby unit we understand first-hand just how invaluable help and support is in those first few weeks,’ Isobel says.
She believes their charity support has also benefitted the business, too. ‘People trust us and are more loyal,’ she says, ‘because they know we genuinely care.’
Standing out from the competition
Erica Douglas is a mumpreneur and co-owner of Ace Inspire, a business coaching and mentoring company. She believes altruistic work has an important place in modern business. This doesn’t have to mean cash donations, she clarifies - time, advice and support can be just as valuable.
‘It’s a new age of corporate social responsibility,’ she explains. ‘It’s not acceptable to just take, take, take any more; you need to pay it forward. Do the right thing, and your business will be rewarded.’
In this tough economic climate it’s vital to stand out from your competition, she adds. ‘Giving back not only makes you feel great and increases staff morale, it creates goodwill around your business. Businesses that are seen to genuinely care about their local community are more highly regarded, better trusted, and enjoy a more positive ‘brand equity’.'
Michelle Mone, Tesco Mum of the Year judge and creator of the Ultimo brand agrees. Her company MJM International has helped raise hundreds of thousands of pounds for charity.
‘Social responsibility is becoming increasingly important, and with the Prime Minister’s aim of ‘empowering communities’ there is definitely a role for businesses to play in setting the right example,’ she says. ‘Whether it’s getting involved with voluntary organisations within their local area, implementing environmental schemes or getting involved in wider initiatives, businesses need to show that they are fully on board.’
Financial benefits
As well as giving you the ‘feel-good’ factor, there are lots of financial benefits to making charitable donations. If you’re a limited company, all charitable donations are deducted from your profits before your corporation tax is calculated. If you pay Income Tax as an individual, monetary gifts to charity can be claimed on your Self Assessment Tax Return. If you complete a Gift Aid declaration, the charity will be able reclaim the basic tax, increasing the amount of your donation (without costing you any extra). For more info, visit hmrc.gov.uk
