The Business Council welcomes the opportunity to provide a submission to the Productivity Commission inquiry into philanthropy.
Australian businesses give generously to causes across the spectrum and they are always looking for ways to do more because it is the right thing to do and what customers, suppliers and workers want.
Philanthropy and community investment help make a positive contribution to long-run sustainability and returns, and are increasingly embedding into core business activities and strategic plans.
Community expectations around the role of business in communities have also increased over time. Many BCA member companies have well established foundations and workplace giving programs.
The BCA understands this firsthand through BizRebuild, which was established by the BCA in early 2020 after the catastrophic bushfires.
The purpose of BizRebuild is to ensure practical and targeted assistance to help small and local businesses devastated by natural disaster to get back on their feet so their communities can recover, rebuild and come back stronger than before.
BizRebuild recognises that for communities to thrive once again, they need strong and successful businesses providing jobs and opportunities for locals.
It is unique in Australia because no other organisation has been specifically set up to fill this gap in the nation’s disaster and recovery response.
BizRebuild also must navigate the regulatory barriers and complexities of complying with fundraising laws across Australia.
The BCA supports the Commonwealth Government’s ambition to double philanthropic giving by 2030. Meeting this target will hinge on measurement, encouraging greater philanthropy and removing barriers to lifting philanthropy.
Corporate philanthropy can take many forms, of which workplace giving is a key channel for employers and employees to directly support the work of the not-for-profit sector.
Workplace giving can be an efficient and reliable source of fundraising for all parties involved, and there is significant potential to lift both employer and employee engagement in workplace giving.