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Philanthropy

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

Many family business owners use their entrepreneurial skills and vision in their philanthropic endeavours. As a result, these ‘philanthropic entrepreneurs’ have challenged traditional charity and set up some of the most successful foundations in the world

Philanthropy plays a large role in the lives of many family businesses. Through their foundation’s schools and hospitals, the Murugappa family has demonstrated their commitment to Indian society

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