Giving Back: What You Can Do for Others Through Corporate Social Responsibility

Deciding on which business you should enter is not exactly easy. You may have the money to engage in a new business, but it takes some education and some acumen to make that business profitable. The factors may also change when you are now big time and not exactly after money, but helping other people out. Here are some of the options you can consider.

Low-cost or midlevel housing

You can get into the business of renting out affordable housing units. If you don’t have the ready cash to pay for the purchase in full, you can look at other avenues like banks and multifamily lenders. For the latter, you will have to apply for the loan using a corporation or limited liability company (LLC).

Be an angel investor

If you have the funds, you can help start-ups that are looking for money. This is a good choice for those who have a lot of experience in business, especially those that have something to do with the start-up they are looking to fund. When you’re an angel investor, you can also be a mentor and adviser to the people you give money to. Of course, you’ll be taking a risk, but if the project does grow as planned you’ll earn a lot more.

Start a non-profit

If helping is the only thing on your mind, you can start a non-profit organization or project. For example, start simple by setting up a community garden. Fund the garden by buying the land, paying for the seeds and fertilizers. Then allow the community to contribute by volunteering to do the gardening. The vegetables can be sold for much lower prices than their supermarket counterparts. Being in business is not always about making a huge profit for yourself. It is also about giving back and helping others find better opportunities.