Ebury Press Karma Capitalism: Why being a good business is good business

‘In an age where CEOs have become rock stars through cross-cultural appeal, James Reed is a proper stadium filler’ DAILY MIRROR ‘A compelling, highly readable, case for PhilCos - or philanthropy companies - where at least 10% of shares are owned by a charity or foundation. [James Reed] calls it “Karma Capitalism” and believes its an innovative way for firms to deliver profits and social currency ... With increasing cynicism about old-fashioned, short-termist thinking among customers and employees, this is a refreshing and inspiring read’ DAILY EXPRESS ‘Karma Capitalism is a persuasive exploration of how to do business differently & to shrink the divide between the haves and have-nots. PhilCos’ harmonising of business & philanthropic practice is an effort to share wealth, keeping government small & making capitalism sustainable. In a nutshell, philanthropy companies have soul’ ANTONIA FILMER, SUNDAY GUARDIAN 'James Reed is this country's leading voice on effective, strategic philanthropy. His new book is both a persuasive argument for the PhilCo movement and a call to arms for entrepreneurs and executives who want to make the world – and their own companies – a better place. Read it, then go and put his ideas into action.' EDWIN SMITH, EDITOR-IN-CHIEF OF SPEAR'S MAGAZINE 'If you believe, as every successful business leader should, that giving back must be baked into your DNA, then James Reed provides the recipe' DAME IRENE HAYS, OWNER AND CHAIR OF HAYS TRAVEL 'Now that I’ve read this book, I cannot unsee the potential and necessity of Karma Capitalism and the concept of a PhilCo. I will be building these ideas into my business from day one' SHARMADEAN REID MBE, FOUNDER, CREATIVE CONSULTANT AND ADVOCATE FOR WOMEN'S EMPOWERMENT ‘Businesses (when they’re not cheating you out of your pants) have the power to transform and support our society for the better and James Reed’s insightful book tells us exactly how. I know him personally and believe these ideas could lead the way’ RUBY WAX, COMEDIAN, PERFORMER AND BESTSELLING AUTHOR What's the point of a business without a purpose? James Reed, Chairman and CEO of Reed and author of Why You? 101 Interview Questions You'll Never Fear Again, is on a mission to reform capitalism. Corporations, he argues, are largely ignoring their employees, customers and wider community in the pursuit of short-term gain and profit, while charities suffer in the wake of the pandemic and cost-of-living crisis. However, there is an alternative. In his most important business book to date, James sets out his vision to encourage a whole new generation of PhilCos – philanthropic minded businesses with at least 10 per cent of shares owned by a charitable foundation. Inspired by his own company's commitment to charity, James shares how PhilCos are more likely to: - Stay in business for 40 or more years - Foster shareholders that work toward a lasting legacy - Retain and motivate colleagues - Improve lives through charity work Best of all, being a PhilCo isn't a different way of doing business. It is a different way of being a business. Based on his own experiences of running Reed as a PhilCo – and drawing on examples of other successes including IKEA, Lego and Rolex – James explains how to choose the right business model for your PhilCo, how to establish a charitable foundation and how to reinvest your profits to make the most impact in the shortest space of time. Part-manifesto, part-guide, Karma Capitalism is a compelling and accessible introduction to the PhilCo movement, proving that it's good business to be a good business.