Entrepreneur Plus - Short White
For Subscribers

Keep Giving BackIn a struggling economy, entrepreneurs get creative with philanthropy.

ByCarol Tice

Opinions expressed by Entrepreneur contributors are their own.

As food prices soar, margins are thinning at Seattle-based Gourmondo Catering Co. But co-owner Alissa Leinonen Gallagher says the $2.5 million company won't reduce its charitable donations--around $10,000 in cash and $40,000 in food and labor in 2007--despite the leaner days. "Profit isn't as strong, but we're profitable," says Leinonen Gallagher, 38, of the company she founded with Ron Johnson, 45, in 1996. "We need to continue supporting the causes of our clients."

That's savvy thinking, says Kris Putnam-Walkerly, a philanthropy consultant. She says many small businesses cut back in a downturn, and that can be a mistake, as companies lose both the community goodwill and the marketing value built up over the years. "It takes time and effort to determine your goals, find the organizations you want to support and rally employees," says Putnam-Walkerly. "It can take a while to build that back up if you have to start over two years later."

Continue reading this article — and all of our other premium content with Entrepreneur+

Join the internet’s leading entrepreneur community! With your subscription you’ll get:

  • Unlimited access, including premium content
  • No ads
  • Subscription to狗万官方magazine
  • Four free e-books a year
  • Subscriber-only events with our experts

Editor's Pick

Related Topics

Business News

Kristen Bell and Dax Shepard's Family 'Stranded' at Boston Airport During 9-Hour Delay: 'We Made Quite a Home Here'

The actors spent $600 on pillows and blankets while waiting for their flight.

Science & Technology

This Is the New ChatGPT Trend That Will Enhance Your Business

ChatGPT plugins are becoming the new cool trend among entrepreneurs to enhance their businesses and engage more customers. Here are some insights into how they're impacting business enterprises, along with some potential risks that may accompany the benefits.

Business News

Netflix is Hiring an AI-Focused Role—and the Starting Salary is up to $900,000

The streaming giant is looking for a leader in its machine learning department.

Money & Finance

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

企业家是不能过度指狗万官方望太多a company exit for their eventual 'win.' Do this instead.