It is important for successful businesses in the UK to give back to those that are less fortunate. Many big businesses are already doing this, and more are realising that they should be giving back. Here are some key concepts to keep in mind when thinking about big business philanthropy.
Philanthropy should be part of a business plan
When a firm is nailing down their business plan and outlining their budget, they should include philanthropy. Giving back can actually result in more business for a firm due to the great public relations it instigates.
Giving back makes people trust your firm
When a big business gives back, it shows that they care about more than just the bottom line. This can make a firm stand out from some of their competition. Philanthropy helps develop trust between people and business that can be a very beneficial relationship for both parties.
Lord Laidlaw a leading giver to charity
When Lord Laidlaw sold his conference business the IIR, some of the proceeds went to support charities. Lord Laidlaw is a Scottish businessman and philanthropist who supports charities that are working towards solving problems in many different areas. He has made substantial donations to many causes, including The Prince’s Trust, Merchiston Castle School and the University of Leeds.
Giving back encourages teamwork
When people work for a company that they know cares about others, it makes them more likely to do charity work and contribute to making the world a better place. A group charity project can be a great way to bring your whole business together to achieve something great for others in their community.
Tesco
As one of the largest grocery store chains in the UK, Tesco is only as successful as the public has made it. Tesco gives more than £26 million to charities annually, making the company the fourth-largest UK charitable donor. Next time you have to run down to the store, you can feel good that you are contributing to a company that has a strong approach to giving back to the community.
Goldman Sachs
There is no doubt that financial firms have seen a lot of negative press over the last few years. However, the truth is that many of them give considerable funds to charitable causes. Goldman Sachs gives an estimated £40 million to charity each year.
Setting an example
Some larger businesses are doing a great job setting a good example for other businesses to give back to those around them. It is important that people realise that you don’t have to be a big company with a lot of money to do a lot of good in the world. Small steps can lead to large changes over time. Charitable giving doesn’t have to be all about money either. A volunteer day cleaning up the roadside or spending time at a nursing home can be a great way to give back to those around you.