Relationships between NFPs and businesses need to be nurtured. Despite any difference in ideologies, NFPs and businesses should always work together to achieve their common goals. Both are set to gain so much from their mutually beneficial partnerships, and with economic uncertainty and grant unavailability, these relationships need to be given more thought than usual, especially from the perspective of the non-profit.

The economic downturn has stopped many businesses from investing heavily into NFPs of late. However, much can be said for building on the corporate relationships and strengthening the reputation of both the business and the charity.

Collaborations between businesses and NFPs are steadily growing, but, there is no doubt that NFPs will benefit even more from these long-term relationships. While government grants are the primary source of funding, cash from big businesses is still very necessary. There are more perks Fan than just the increase in fundraising to partner with a business. The NFPS can also seek specialist corporate skills or tap into a team of volunteers.

Partnering with businesses ensures that NFPs work harder than ever to meet their target and many NFPs report that their projects are more successful with the aid of corporate backing.

In order to bridge the communication gap, NFP organisations must be crystal clear about their objectives, board responsibility and community goals. This way, the corporations will know exactly where they stand and what is expected of them.

As an NFP, you must let them know your requirements. Is it purely financial? Or do you need volunteers? Are you looking for a short-term commitment or want someone who will be a corporate partner over an extended period. Remember that companies have a lot of knowledge within their four walls – from strategy to administration, marketing to training – tap into it as much as possible and learn from them as necessary. This transference of skills can help your NFP develop in many innovative ways and enable the business to have a better understanding of the NFP they are partnering with. Taking advantage of employee volunteering will also aid the skill development.

Best practices need to be considered in all cases and the relationships of the organisations, as well as the individual volunteers and corporate partners, need to be managed. Transparency must be provided at all times from both parties to make it work. Regular reporting on operational performances and strategies, including Key Performance Indicators (KPIs), will go a long way in ensuring this occurs.

One of the main trends at the moment is for businesses to develop fewer, but stronger, relationships with NFPs offering a better, more sustained relationship. Not only does it provide a higher profile for the firm, but the contribution is also fuller bringing with it a greater sense of satisfaction from both the corporate staff and NFP staff.

There are many incentives offered by the government to support businesses contributing to NFPs including taxation initiatives and tax deductions. These are set up to foster greater community partnerships to benefit Australia as a whole. And with clear policies in place from the NFP’s perspective, more businesses will be keen to invest in their community and their NFPs, and build integrative collaborations to help the bigger issues at  large.