In the same year that Thomas Jefferson wrote the Declaration of Independence, Adam Smith famously made the case for business owner self-interest. He wrote:
“It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own self-interest.”
In other words, you do good by doing well financially.
Philanthropy is good for the community, but it also beneficial for the business and business owner. Besides helping communities and individuals, philanthropy boosts the reputation of both the owner and the business. Even physically, behavioral scientists tell us the act of giving releases endorphins, enhancing one’s sense of well-being. Assuming affordability, charitable giving is a classic win-win.More Info