Whether they are starting a company with a goal to donate a portion of their revenue each month or they are setting up a charitable fund once they are successful, more entrepreneurs are turning to philanthropy. Let’s take a look at why this trend is building.
A Chance to Give Back
Many entrepreneurs like to give something back to the communities that raised them once they have reached a certain level of success. It is a sign of gratitude and could also be a platform to help others escape circumstances they may have faced in their younger years. It can also be born from a desire to see those they are passionate about flourish and do better.
For example, London entrepreneur Tej Kohli has chosen to give back to his native India by setting up a charity to help people with corneal blindness. Likewise, Bill Gates has his own charitable foundation. They have helped with many projects around the world, and have been able to give plenty back.
It is good for a business’s reputation to be able to demonstrate they engage in philanthropy. There are so many good causes out there to support and associating the name of a company with the right project can be fantastic. While philanthropy should always be born from the desire to make the world a better place, it can also be used as a boost to a company’s image in the wider world.
Philanthropy can also be used to boost the reputation of the charity that they are working with. If a company is particularly well-known, be that in their local area or the wider industry, a charity’s association with them can bring attention from parties that they may not have attracted otherwise. For example, a company could choose to sponsor the local children’s football club, potentially netting them more sign-ups from parents who read about the sponsorship in the local newspaper. Even a small act of philanthropy can achieve waves.
Achievable on Every Level
Whether a business owner runs a small e-commerce start-up out of their garden shed or chairs a global corporate empire, they will be able to give something back. With so many causes out there, it is easy to find something that would appeal to the core values of a business, no matter what it might be.
More and more companies are choosing to engage in some philanthropic work and it is bringing some serious positive changes in the world. Charities often provide voices and support to those who may not find it in other places. By funding their work, businesses are able to contribute to the betterment of humanity overall. This is a wonderful endeavour and it is to be commended. Take a look at some of the most well-known companies and brands and find out how they are giving something back. It can be surprising to find out just how many of them are supporting charities in some ways. Help can always be found where you least expect it.
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