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RESEARCH PRODUCT

Altruism in business – an empirical study of philanthropy in the small business context

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PurposeThe purpose of this study is to examine corporate philanthropy from the perspective of small business owner‐managers to find out whether there is room for altruism in business life.Design/methodology/approachThis study is based on 25 thematic interviews with small business owner‐managers. The data analysis is based on a method of qualitative content analysis.FindingsBased on the analysis, it is shown that reactivity, an emphasis on personal interests, the willingness to utilize philanthropy as part of marketing and lack of planning are typical of philanthropy in the small business context. Small businesses often emphasize strategic business reasons as the main motive for their philanthropic engagements. Nevertheless, in some cases the philanthropic decisions are based on mere willingness to contribute to the welfare of others. Thus, the paper suggests that there is room for altruism in the small business context. The existence of altruism in the context of small business philanthropy is closely related to owner‐managers' values and business ambitions. Indeed, the organizational context does not usually hinder the existence of altruism to any great extent among small businesses, as it might do in the large business context. Similarly, based on the results of this study, the authors suggest that close relationships between a small business and its stakeholders increase the probability of altruism in business.Research limitations/implicationsIt is acknowledged that corporate philanthropy is but one possible context in which to study altruism.Originality/valueThe study provides useful information on whether there is room for altruism in business life from the perspective of small business owner‐managers.