Why Business and Philanthropy Go Hand in Hand

business and philantropy

Kyla Nievera, NegosentroAs a business owner, do you find that your company has begun to make large profits month after month? That’s great news – it means that your business is running efficiently, experiencing growth, and that there’s a demand for the products or services that you sell. Along with that, if you find that your customers keep coming back for more, then you can count on the fact that you have a good reputation amongst your customer base. However, the main thing to think about now is how you’re going to use your profits.

There are many options – perhaps you’re considering putting them in a high-interest savings account, or even investing some of them back into your business to make even more improvements. But, have you considered the benefits of giving some of your money back to charity or a cause that is close to your heart? Here are some of the main reasons why business and philanthropy go hand in hand.

Reason #1. Give Back to Your Local Community:

As a successful business owner, you have the power to help and improve your local community. When you give some of your profits to charity, you will be providing these good causes with the funds that they need to make the local community a better place, whether you’re investing in charities that help the homeless in your local area or funding the education of disadvantaged children. Along with the great benefits that come with improving your local community, giving back will also improve your reputation and generate more respect for your brand.

Reason #2. Support Causes Close to Your Heart:

When your business is bringing in a lot of profit, you have a unique advantage in that as a business owner, you’re in a position to support the causes that are close to your heart. There’s no need to pick from pre-existing charities; if you feel that there is a gap in the market and more could be done to help the causes that you care about, you could follow in the footsteps of several other business owners by setting up your own charity or fund. For example, EJC President Moshe Kantor is an international businessman who founded the European Jewish Fund in 2006; this fund focuses on promoting Jewish life throughout Europe by supporting educational and leadership programs with the main aim of reinforcing Jewish culture and identity.

Reason #3. Build Business Connections:

When it comes to choosing how you spend your business’ profits, investing them in a charity or cause that is close to your heart is a wise decision. By donating some of your profits to good causes, you won’t just be doing your bit to help those in need – you will also be able to build more business connections and gain plenty of opportunities to network with influential people who could help you improve and grow your company even further.

If you look around at some of the most influential and successful business owners today, it’s not uncommon to see that they are also philanthropists!