Corporate giving 'could fall by £500m'
Charities
23rd March 2009
Business donations to charity could fall by nearly £500 million this year as a result of the economic downturn, a new survey has found.
According to research commissioned by the Social Investment Consultancy (SIC), 60 per cent of senior business leaders surveyed said their companies are likely to reduce their charitable budgets.
More than 80 per cent of bosses admitted that cutting corporate giving is unavoidable during a recession, while 79 per cent said that being socially responsible can give companies an edge over their competitors.
Jake Hayman, chief executive of the SIC, remarked that many businesses cannot afford to sustain their present levels of donations to good causes.
He commented: "The truth is there are plenty of things companies can do to maintain strong partnerships with good causes that can build rather than hit the bottom line."
The SIC aims to promote strategic philanthropy and smart public-private sector partnerships.
For more information on how Giles can help you insure your charity, Click here.
