Taking ‘care’ to help entrepreneurs

In January, we wanted to make good on some new years resolutions and make a difference to entrepreneurs in developing countries.

For the whole of January, we “lent” our subscription revenue to Lend with Care to pass on as loans to entrepreneurs in less privileged countries.

Lend with Care is an innovative microfinance charity; pairing up entrepreneurs in developing countries with people in more fortunate parts of the world, who loan those entrepreneurs money in order for them to transform their lives through business.

To date over 25,000 lenders have made 251,510 loans and lent over £8m to 27,567 entrepreneurs in 11 countries providing 32,976 jobs – that’s a measurable difference!

It was a difficult decision to choose who to donate to on the Lendwithcare site, as we really wanted to choose them all. They all have great stories, and are looking to improve their businesses to help their families and are also trying to improve the environment they live in.

After much thought, we choose four different businesses to lend to:

Bui van Kien

Mr. Kien wants to diversify the sources of income and he chose to rear buffaloes because it is profitable in his region. He applied for a loan, which is to be used to buy a young buffalo.

Bui van Kien

 

Bui thi Ninh

Growing rice and rearing 2 buffalo help them to bring 120 USD per month on average.
Mrs. Ninh hopes to expand her breeding business by rearing one more buffalo.

Bui-thi-Ninh

 

Ra Siem

To increase their income and make it better Mrs. Ra wants a loan in order to purchase another small plot of land around 1,600 square meters to grow sugarcane.

Ra-Siem

 

Nguyen van Du

Mr. Du requested a loan to finance the installation of a household biogas plant. The biogas plants accepts mainly animal manure but also other organic waste. Then it converts them into biogas which is then piped into the home and used for cooking, lighting and even heating. This will help reduce electricity cost and save a lot of time spent travelling to collect firewood. Therefore, deforestation will be reduced and the living environment will be much healthier.

Nguyen-van-Du

A few days later, we learnt that Nguyen van Du is now fully funded, so he’s on his way to realising his dreams for his business, which without Lendwithcare, he probably wouldn’t have been able to do. We’re looking forward to Bui van Kien, Bui thi Ninh and Ra Siem reaching their funding target too, so that they can get going with their projects.

Lendwithcare, is such a great idea, as it makes a real difference to entrepreneurs in developing countries, and it’s a ‘loan’, so you will get the loan amount back – so please lend any amount you can, to make a real difference today.

Here in the UK, we can help you to check the financial health of the businesses you’re trading with. For less than 50p a day, you’ll be able to see how good or bad a credit risk they are, and what’s most important to many small businesses – when they are likely to pay you. Sign up to CreditHQ so that you can get paid on time, and with that extra cash, please think about lending some to other entrepreneurs in developing countries, to help them improve their lives.

Thank you

It’s Red Nose Day! – giving to charity is good for your business too!

red-nose-2015

It’s Red Nose Day! Are you doing funny for money today?

The money raised for Red Nose Day is spent by Comic Relief to transform the lives of millions of people, both at home in the UK and across Africa, funding fantastic projects that really do change people’s lives. So, donating or sponsoring someone will make you feel that you’ve made a bit of a difference, but on top of that, there are benefits for your small business when you give to charity.

Giving a donation or sponsoring a team

If you make a donation and don’t receive anything in return (apart from a good feeling!), then this is classed as a straightforward donation. It can also help build a positive image for your business too. If your company donates (it has to be a donation from the company rather than from a sole trader or partnership), you can deduct the value of your donation from your company’s total profits when you calculate your Corporation Tax. For how to claim, visit the HMRC website.

So set up a team fundraising page, and start donating!

Giving shares, property or land 

You can’t give shares in your own company to a charity, but you can give ‘recognised shares’ in other companies, land and property as a gift. You can claim corporation tax relief for such gifts, and you can claim relief if the gift is sold to the charity for less than the market value. For more information on how to give, and how to claim tax relief visit HMRC.

Giving equipment or stock

Giving equipment or stock are both considered as ‘gifts in kind’ and you can get tax relief. Company equipment, such as office furniture, computers, printers, cars/vans, tools and machinery all count, but they have to have been used in ‘your normal business activities’ to qualify.

If you donate goods that your business makes or sells – your ‘trading stock’ – to a charity, then you can claim the cost of these goods in your business accounts, reducing your business’s taxable profits by the full cost of the goods. For more information, go to HMRC

You could consider becoming a partner – for more information visit http://www.rednoseday.com/partners

Payroll Giving

Setting up a Payroll giving scheme is a great way to help a charity. Payroll giving enables your employees to give to their chosen charity directly from their gross salary, before the tax is deducted, making the donation worth more to the charity. It also allows charities to budget ahead, providing them with regular, reliable income.

The costs of setting up a scheme and the small ongoing costs of running a scheme are deductible for tax purposes and help support corporate social responsibility (CSR) schemes too. For more information, visit the Payroll Giving Centre and HMRC, for how to set everything up.

Giving is good!

So giving is good – not just for the charity, but for your business too…. So do something funny for money and support Red Nose Day 🙂

(For more information on what you can and can’t claim, and how to claim any tax benefits, then visit the HMRC and The Institute of Fundraising.)

Running a small business isn’t easy. It’s rough out there. Enter CreditHQ: helping small businesses get paid, grow and thrive.

Giving is good! Benefits of charitable giving to your small business

It’s International Day of Charity on 5th September – there are so many ways to support a charity, so why not give one of them a go!

Supporting a great cause helps the charity to continue their life-changing work, and makes you feel that you’ve made a bit of a difference. On top of that, there are benefits for your small business when you give to charity.

Giving to charity doesn’t have to just be about money, it can also include volunteering services or donating stock. All are forms of charitable giving.

annefrank

Giving a donation
If you make a donation and don’t receive anything in return (apart from a good feeling!), then this is classed as a straightforward donation. If you do receive a public thank you or a mention in a newsletter, then that’s fine. Promoting your company’s links with your chosen the charity can help build a positive image too.

If your company donates (it has to be a donation from the company rather than from a sole trader or partnership), you can deduct the value of your donation from your company’s total profits when you calculate your Corporation Tax. For how to claim, visit the HMRC website.

Sponsoring an event

Your company could sponsor a charity event or project, by giving the charity a one off payment or a regular amount.

In return for your sponsorship amount, you may benefit from advertising campaigns or publicity, promoting your company brand or product in conjunction with the event or project you’ve sponsored, potentially reaching a wide audience.

Your business may be able to deduct the sponsorship payments as an expense when you work out your profits for tax purposes. For more information on sponsorship and the tax benefits, visit HMRC.

Giving your time and expertise

Most charities couldn’t operate without their volunteer workforce – it is vital to their existence.

Volunteering your services will give the charity valuable expertise. If one of your employees works or volunteers for charity on a temporary basis or on a secondment, your company can continue to deduct the costs of the employment, including the employee’s salary for tax purposes. (This applies to sole traders, trading partnerships and companies with a trading or investment business). You may also be able to claim other expenses, so for more information visit HMRC.

Giving shares, property or land 

You can’t give shares in your own company to a charity, but you can give ‘recognised shares’ in other companies, land and property as a gift. You can claim corporation tax relief for such gifts, and you can claim relief if the gift is sold to the charity for less than the market value. For more information on how to give, and how to claim tax relief visit HMRC.

Giving equipment or stock

Giving equipment or stock are both considered as ‘gifts in kind’ and you can get tax relief. Company equipment, such as office furniture, computers, printers, cars/vans, tools and machinery all count, but they have to have been used in ‘your normal business activities’ to qualify.

If you donate goods that your business makes or sells – your ‘trading stock’ – to a charity, then you can claim the cost of these goods in your business accounts, reducing your business’s taxable profits by the full cost of the goods. For more information, go to HMRC

Payroll Giving

Setting up a Payroll giving scheme is a great way to help a charity. Payroll giving enables your employees to give to their chosen charity directly from their gross salary, before the tax is deducted, making the donation worth more to the charity. It also allows charities to budget ahead, providing them with regular, reliable income.

The costs of setting up a scheme and the small ongoing costs of running a scheme are deductible for tax purposes and help support corporate social responsibility (CSR) schemes too. For more information, visit the Payroll Giving Centre and HMRC, for how to set everything up.

Giving is good!

So giving is good – not just for the charity, but for your business too!

For more information on what you can and can’t claim, and how to claim any tax benefits, then visit the HMRC and The Institute of Fundraising

Have a look here for more information about International Day of Charity