Will sponsoring a team help my small business? Yes, and here’s why.

Chances are that as a small-business owner, you have been approached by people, charities, institutions or groups to sponsor something. Maybe it’s a youth sports team, a concert in the park or an online event.

Groups presume small businesses have a built-in audience and the financial wherewithal to help underwrite an event.

Although they want you, do you want them?

You should consider saying yes for six very good reasons, including good karma in your community and a boost of your visibility. More importantly, sponsorships can generate leads, partnerships and sales.

1. Sponsorship creates goodwill

Goodwill is important – vital, even – but a little amorphous. Essentially, it is the reputation your business has in the community in general and among customers specifically.

People like and appreciate a business that can sponsor an event. Sponsorship will co-brand your business with that event and, in most cases, improve your business’s reputation.

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