Entrepreneur

Your Company Should Give Back (Even If You're Short on Cash)

Here are two reasons why: Your customers and your team want you to.
Source: ilyaliren | Getty Images
ilyaliren | Getty Images

was hurting. The company sells men’s activewear, and when the pandemic began, it had to shut down four stores and manage many wholesale losses. Its cofounders took large pay cuts, and employees’ salaries were reduced 10 percent. Then, despite Rhone needing to conserve cash, its cofounders decided to give steep discounts to customers — and donate 2 percent of net sales that helps frontline medical workers. 

You’re reading a preview, subscribe to read more.

More from Entrepreneur

Entrepreneur3 min read
Making the Midlife Leap
Sometimes, building the life you want requires a big risk. That’s what Keri Gardner realized when she cashed in $100,000 of her retirement savings to buy a franchise. It was November 2020, and she had just been laid off from her executive role at a h
Entrepreneur2 min read
‘I Won’t Make That Mistake Again!’
When Shizu Okusa decided to start a new business, she knew where to find the best guidance. “I wanted to reverse engineer everything I did wrong in my last company,” she says. Raised on a farm in Vancouver by Japanese immigrants, she’d founded a cold
Entrepreneur3 min read
THE Franchise 500® HALL OF FAME
This year, we at Entrepreneur published the 45th annual edition of our Franchise 500 ranking. As we celebrate that milestone, we also want to recognize the franchise brands that have been on this Franchise 500 journey right alongside us for the longe

Related Books & Audiobooks