Business owners, especially in times of economic crisis, are so busy collecting their numbers that they may not think twice about asking about business philanthropy. Why is that important? Since it doesn't directly add money to profit, why participate?
If you are a family business or closely related company, you may be wondering why is that important to you? Are your philanthropic donation efforts solely for charity (definitely a good cause) or does your company get something back from your efforts or donations?
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Corporate philanthropy is said to be one of the most effective ways to teach children family values (if you are a family business and your children are involved in the business) or build company culture and values.
Companies that make business philanthropy a part of what they are are worth more than a dollar. They recognize that they are part of a community that supports their business and want to be included in that community and give back. Through our philanthropic efforts, business owners address problems or needs in society that governments cannot, will not, or cannot address.
Part of a company's culture and values can be the basis that after achieving financial security for the entrepreneur and his family, that success carries with it a kind of obligation to share that success with others.