According to a survey by the National Foundation for Women Business Owners, business owners surpass the general population in giving generously to charitable organizations.
Of those surveyed, 90 percent of business owners (compared to 78 percent of the general population) said they donate money to charities, with 30 percent contributing $5,000 or more annually; 70 percent of the business owners surveyed (compared to 56 percent of the general population) said they volunteer time — an average of 12 hours — at least once a month.
Business owners provide their greatest level of financial support to organizations involving religion, local community service and youth-related activities.
In the workplace, 39 percent of business owners with employees have established company policies to encourage volunteerism by workers. These policies include approving either paid or unpaid leave for volunteer service, as well as granting extended leave for philanthropic activities.
Although women and men business owners are similar in their generosity, the survey did reveal some other differences in charitable giving.
- Women business owners are more likely to use their volunteer time in leadership positions, such as serving on boards or chairing fund-raisers and special events.
- Women business owners began volunteering at a younger age — nearly half of them before adulthood.
- Women business owners are more likely to credit their interest in philanthropy to family tradition or the positive influence of their parents.
Source: National Foundation for Women Business Owners
