Entrepreneurs give twice as much of their profits to charity as more-established companies, according to new research released today by the Fidelity Charitable Gift Fund and Ernst & Young. According to Fidelity’s press release:
- Six in 10 (62 percent) feel that giving back makes their companies more successful in the long run
- One-quarter (26 percent) incorporated corporate philanthropy into their companies’ original business plans.
- Nearly 70 percent did not wait for “success” to give back, noting they started supporting charities while building their businesses.
The study found that entrepreneurs’ approach to philanthropy is “personal as well as practical,” and that they view “giving back” as “an opportunity rather than an obligation.”
Learn more at the Fidelity Charitable Gift Fund website.