Wealthy donors want to support enterprise, survey finds

Wealthy donors are willing to give up their tax deduction in order to support social enterprises, according to a YouGov poll released today.

The poll of 476 adults with over £100,000 in investable assets found 80 per cent were willing to sacrifice charitable tax-deductibility in order to support enterprising activity.

Commissioned by strategy and fundraising consultants The Social Investment Consultancy (TSIC) the poll also found that 40 per cent of the high net worth individuals would be more willing to make a gift if it would help an organisation become self-sufficient in the long run.

TSIC CEO Jake Hayman said: 'The recession has left us with greater need and less wealth. As a consequence, supporting sustainable business approaches is that much more appealing to high net worth individuals.'

He pointed out that there were an increasing number of philanthropists who had made their own wealth rather than inheriting it in the UK.

'Many social enterprises show that charitable services can often be charged for - these are the kinds of schemes that will appeal to today's entrepreneur-philanthropists,' he said.

Hayman said the results of the poll and TSIC's experience showed potential donors want to see charities be more businesslike and were prepared to fund that process.