The Importance Of Partnering With Nonprofits

It is vital that successful companies participate in the startup ecosystem

23Apr

Modern entrepreneurs come in a variety of shapes and sizes, and the younger generation has an unrelenting urge to become successful. Most high school and college students of today dream of starting their own enterprises. However, the classroom cannot equip you with all the knowledge and skills you need to start and run a successful business.

For that reason, it is important that already successful companies participate in the startup ecosystem in a way that serves the objectives of the companies while uplifting the next generation of leaders in business. People born after 1995 (Generation Z) aspire for more than just the chance to be CEO – they want to change the world. Therefore, for well-established brands to help this generation to succeed, they need to begin by helping them help others.

Purpose-driven growth

A majority of leading businesses today are playing a role in aiding entrepreneurial growth by fostering partnerships with various nonprofit organizations, especially those that are related to the core business of the companies.

Examples of ways in which established businesses get involved is by partnering with nonprofit organizations, such as Amp the Cause of Denver, to raise funds for education and healthcare, create awareness through other charities, use monetary and in-kind donations to help children with life-threatening illnesses, and provide opportunities for kids to participate in educational programs in a safe and healthy environment.

Forward-thinking business leaders are aware of the growing interest of the younger generation in entrepreneurship and use every opportunity available to invest in the growth of budding entrepreneurs.

Mentorship programs

Research continues to demonstrate that mentorship is among the most effective ways of improving the chances of success for an entrepreneur. Of all the entrepreneurs without a mentor, half fail. On the other hand, the G20 Young Entrepreneurs Alliance Summit reported in a survey that 88% of founders who had one or more mentors started and ran a company which survived.

A number of Fortune 500 companies, including the Bank of America and American Express among other major financial institutions, look to mentorship programs as a source of new talent. Nonprofit organizations assist young adults from poor families to gain the skills needed to start great careers at leading companies.

In addition to creating an avenue for corporate social responsibility, mentorship programs provide future business leaders with a way of taking advantage of opportunities.

Equipping educational institutions with teaching materials

Even though making an impact on the global scale is impressive, if you are in the initial stages of creating your own nonprofit, consider offering support to your local educational institutions. One effective way of developing a strong relationship with a teaching program or school is by donating teaching materials. Later on, you can increase your involvement with more direct engagement with students who aspire to be successful entrepreneurs.

There is no better time to act other than now. Start creating a positive impact in others’ lives by finding ways of getting involved in the cultivation of the entrepreneurial spirit in the younger generation.

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