Capitalism has both strong opponents and proponents. Both agree, that it is a powerful force. But whether that force is good or bad is where the disagreement lies.
Bill Gates is visiting Australia this week and has said that he is “a true believer in the power of capitalism to improve lives ... It can ... play a central role in increasing living standards”. But he has also realised that “While the private sector does a phenomenal job meeting human needs among those who can pay, there are billions of people who ... go without”. So in other words, if there’s no perceived monetary profit to be made, the private sector is rarely interested.
And when it comes down to basics, the reality is that for businesses to survive, they need paying customers. However, this does not ‘excuse’ businesses from using capitalism to benefit those who ‘can’t pay’. You can improve your local and/or global community via your business by:
- Developing a strategy around giving. What issues does your business want to address? How does that fit into your business’s core values?
- Getting alongside local charities and non-profit groups to find out what their needs are. You may find that your time and expertise is more valuable than ‘throwing money’ at them.
- Evaluating non-cash options. Are there products or services you can donate? Can you volunteer your staff based on your company’s unique skill set?
- Investigating grant matching programs. For example, matching employee donations at $100 per employee.
- Build in a percentage for cash contributions. A standard amount is between 1 and 2 percent of the gross profit.
Michelle Grice writes a weekly column for business women in The Western Weekender
