I’m starting a business with my spouse and she is adamant that we donate 10% of the profits to charity.
While I am all for supporting charities and helping out the community, I am worried that such a significant financial commitment could limit our growth and make it difficult to compete with other businesses in our niche that aren't doing this. I think it might make better sense to reinvest that 10% back into our business so we can grow faster, and then we can make annual donations when once we are in a stronger position?
What are your guys' thoughts on this?
Thanks.
While I am all for supporting charities and helping out the community, I am worried that such a significant financial commitment could limit our growth and make it difficult to compete with other businesses in our niche that aren't doing this. I think it might make better sense to reinvest that 10% back into our business so we can grow faster, and then we can make annual donations when once we are in a stronger position?
What are your guys' thoughts on this?
Thanks.
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