Giving Back Pays Off

Your business can be more than just a way to pay the bills--it can be a way to give back to your community. Take Homeboy Industries, for example. Boasting a silkscreen business, a bakery and a cafe, the non-profit uses its businesses as a means to reach out to and employ former gang members and at-risk youth.

A New York Times article featured this philanthropic business recently, highlighting the budding non-profit's commitment to putting rehabilitation before revenue. According to the article, Homeboy Bakery refused a grant to buy an automatic dough mixer and opted to have employees knead by hand in order to employ more people.

Giving up free equipment sounds crazy, but Homeboy Industries is onto something. Using your revenue to contribute to your community could have a bigger payoff than you think: Many potential customers want to patronize businesses that give back.

To learn more about how giving back can give your business a leg up on the competition, read our "Like a Good Neighbor" feature from the December/January MyBusiness.