Businesses happen only with the help of the society. Many entrepreneurs give back to the society in the form of many philanthropic activities. Businessmen like richelieu dennis was also one among this category. Having gone through various things due to war, he knew he had to contribute towards the society through his business. The following are some ways businessmen involve in charitable activities.
- Entrepreneurs are also innovators. In their philanthropic role, they also become nonprofit innovators, that is they do these for the community. They help generate new ideas to solve the problems in the society and also to improve the community. With whatever they hear and see in the society they live in; they get to know the needs of people. This helps them know in what way they can contribute towards the society.
- These entrepreneurs engage in social investing. These are those business ventures that help produce social and economic benefits. There are so many ways in which this is done across the world by so many entrepreneur-philanthropists. They may help people with no homes get opportunity to build one by contributing materials, volunteering to provide labor, etc.
- Entrepreneurs can also develop ventures with for-profit businesses. This way they can help many underprivileged. For example, there are many skilled people who may not be able to get the necessary raw material as also not aware of how to market their products. If a venture is created with organizations that can exhibit these, it can be of great help because the products get a branding. People normally do not go for unrecognized products but when the same is given through a brand name, it sells well.
- Contributing a part of profits of the businesses to activities that help enhance the living standards of people around the world is also carried on by many.