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ARTICLE · 05 SEPTEMBER 2023

Purposeful Businesses

A business that does not make money will not be a business for very long. But having a profit motive is not the same as being a purposeful business. Certainly, purposeful businesses...

United KingdomCorporate/Commercial Law
UHY Hacker Young LLP
UHY Hacker Young LLP

We are all in business for a purpose. Businesses exist to create and sell products or services and, by doing so, to make profit.

A business that does not make money will not be a business for very long. But having a profit motive is not the same as being a purposeful business. Certainly, purposeful businesses exist to make money, but they also have a wider motivation that informs everything they do. Put simply, purposeful businesses do not put profits before everything else. They operate with positive social, environmental or corporate goals in mind (and often all three).

Solving problems - not creating them

Purposeful businesses make money from solving problems and never from creating them. They identify a challenge and focus their efforts on doing something to help customers overcome it.

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