Popular philanthropic missions that business owners are undertaking in 2020

27^th July 2020

The editorial unit

The editorial unit

27 July 2020

Philanthropy is a central component of business strategies in the UK. Business owners need to show that they care about their local community and other causes around the world, and philanthropy is the best way to achieve this. There are many ways to be a philanthropist, give something back to communities across the globe and instigate long-term change to the benefit of millions of people. We are going to take a look at some of the most popular philanthropist ideas that business owners are trying in 2020.

What is philanthropy?

Before we look at some of the philanthropist ideas that are being used most frequently this year, we thought we would first look at what philanthropy is. Philanthropy is the act of donating to or promoting good causes set in place to help those who need it. There are many different foundations and charities set up with different initiatives and while these can be supported, it’s also common for philanthropists to set up their own charities.

Setting up foundations

There are a lot of pre-established charities and foundations that have been set up with great causes in mind. For instance, UK philanthropist Tej Kohli has a foundation set up that focuses on both local and international matters. This foundation aims to find a cure for corneal blindness, but also focuses on helping those who require bionic limbs. This is just one example of a foundation that has already made significant improvements to the lives of so many people. There are many more within the UK which should serve to inspire other potential philanthropists.

Fundraisers

Another common form of philanthropy in the UK comes in the form of a fundraising event. These events are often set up by charities, but it is also possible that philanthropists can set up their own fundraisers. You might find that there are galas or charity auctions that are used to bring in a lot of money to a new foundation or an existing charity. These are often the work of philanthropists. If you take a quick look online, you’ll find that there are plenty of events taking place in the coming year that will offer large donations to these great causes.

Voluntary work

Finally, many business owners and aspiring philanthropists in the UK are setting aside time to do some voluntary work. On top of that, they are finding time for their team to do the same, in order to improve their company’s reputation and help those who are desperately in need of support. Voluntary work can take many forms but for the most part, it involves tidying up local areas, working at a soup kitchen or even volunteering at a local shelter.

Final verdict

As you can see, there are many great philanthropic ideas and strategies that business owners can try out in 2020. Hopefully, the generous spirit that is currently being promoted will set an example and other successful companies and entrepreneurs will continue to be kind and help those in need.

The editorial unit