More companies are citing ‘innovation’ as a key reason for partnering with charities, according to a new survey.

The Corporate-NGO Partnerships Barometer 2013 found that innovation is now the second most-cited reason for businesses to partner with charities. This is up from fifth place in last year’s survey.

Manny Amadi, CEO of CE Advisory who carried out the survey said “This striking increase in the scores for innovation as a reason for business engagement in partnership with NGOs is evidence of the maturity of the partnering agenda. We’re now seeing a clear move towards effective and business-based collaborations in support of the increasingly recognised concepts of purpose-led growth and shared value.”

Conversely, ‘innovation’ slipped down the ranks of reasons for NGOs deciding to partner with businesses. This year, 52% of charities cited innovation as a reason, down 23 percentage points on 2012.

For businesses, reputation and credibility were cited as the most popular reason for engaging with charities.

All charities surveyed said that access to funds was a reason for partnering with businesses,whilst 83% said it was because of access to people and contacts.

The findings are the result of an online survey of 120 businesses and charities which took place in July 2013.

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Source: Third Sector