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At a time when we reflect on the year that has just been and the year ahead, one property advisory firm wants to shake up the real estate business model and make charity vital.
Following a 2016 report that revealed 70 per cent of small to medium businesses donate about $5,800 a year, Gault & Co Property Advisory has decided to raise the bar.
“While we obviously applaud any form of altruism, we also think so much more can be done. Our target is to be returning almost 13 times that amount — around $75,000 per year — by the end of 2020,” Gault & Co founder Ramon Mitchell said.
He considers giving to be as crucial as profit.
“Our firm has established the Gault Giving Initiative, which sees 10 per cent of all of our fees donated, with clients given the power to choose which charity benefits from their fee,” he said.
Clients involved in giving have helped built awareness and created relationships with the charities, too, Mr Mitchell said.
And of course, as the business grows, so does the level of donations.
“We’ve actually found this approach to business is extending towards customer service as well. We provided some services free of charge as part of what we see as building a community of benefit.”
Mr Mitchell has noticed a material shift in the entrepreneurial mindset of small- to medium-sized businesses that no longer focuses on squeezing every single dollar out of an interaction.
“Instead, [they] look to deliver real value and build long-term relationships with clients and contractors while donating back to communities.”
He has called on the industry to step up their charitable donations.
“Charity should never be simply treated as a tax-deductible accounting line item. Rather, establishing it as part of your core business brings benefits to all — employees, clients and the community at large.
“Businesses like ours continue to prosper when employees are engaged in their roles not just due to their compensation, but also by the feeling that there’s real meaning behind their work in assisting others who need our help.
“In addition, stronger communities make for a better society, and we’d like to be part of making that happen. We want to connect with people in a real way and give real value to our relationships.”
Charities that Gault & Co will support are Victor Chang Cardiac Research, RSPCA, Lifeline, Starlight Children’s Foundation, World Wildlife Foundation and Wayside Chapel.
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