For many family businesses, a culture of values and responsible ownership comes naturally. So it’s no surprise that business growth often translates into growth in philanthropic commitment.
Giving back yields substantial dividends, both inside and outside your firm. Not only can it be a positive extension of your family’s values into the world, family philanthropy can also be an excellent way to teach the next generation about financial stewardship and the good that wealth can accomplish — while deepening intergenerational bonds, further strengthening your business.
But how best to achieve the positive impact you desire? As with any other aspect of your business, a philanthropic enterprise must be planned carefully and executed with precision.
Whatever your philanthropic vision, and whatever its form — be it through the family firm, the family foundation(s), or as an individual family member — we can help you make it a reality. At PwC, we adopt a simple, highly effective approach:
Stage I: Developing your philanthropy road map
Stage II: Analysing the full spectrum of opportunities
Stage III: Making the investments
Stage IV: Monitoring the impact against your philanthropic goals
A successful family philanthropy can be a wonderful testament to a family’s values. It can be the realisation of a meaningful shared or personal vision. And it can bind together a family across generations, reinforcing the special and powerful quality that makes family business exceptional.
We invite you to contact us to explore how we can help you extend your values into successful philanthropic enterprises.
"It is important to teach each new generation, early on, the difference between ownership and stewardship. Ownership is a right of possession. Stewardship is a fiduciary role. It is holding the institution in 'trust for' the next generation. We feel, as a family, that this institution has been passed on to us for our care and not for us to dissipate or do what we will with it for our personal gain."
"Being both the CEO and the owner makes you constantly questioned but at the same time never questioned at all."
"I think my staff appreciate the continuity in the business. They prefer working for a family business like ours. The openness of management to future plans and the 'all in it together' mentality binds staff to the company."
"One of our main competitive advantages at Componenta, a listed family business, is the speed of decision-making as we have managed to align the interests of the owners and the managers in the decision-making process."
"As a fifth generation member of a family in the yachtbuilding business, I believe that continuity is of invaluable importance. Our advanced custom yachts are luxury products but you really don't need glamour to compete successfully. I learned from my father how genuinely clients appreciate a down-to-earth approach and a long tradition of technical excellence."