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Philanthropy

Some business-owning families believe that family success in philanthropy is much easier than family success in business. Not so. A family foundation still has to pass through the generational stages of involvement and control – with all the associated issues

Good corporate governance should extend to all areas of a family business, including its philanthropic ventures

The FBN conference presented many opportunities for delegates to learn about issues affecting family businesses

Globalisation has revealed the widening gap between the wealthy and the poor of the world. But instead of pouring yet more aid into poverty-stricken areas, responsible investment, in particular the provision of financial services to poor entrepreneurs, has been found to be a more effective social and economic development tool – and a great way for family businesses to give back to society

Voluntary contributions to society – philanthropy – is one of the oldest ways an individual can communicate with others. Historically, the role of the state may have seen a gradual decline, but private initiative has now become more important than ever and family businesses should realise the significance of establishing their own philanthropic institutions

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