OREANDA-NEWS. November 20, 2007. The idea of reallocating the corporate gifts budget to charities is gaining more and more popularity among Russian and international companies. In October alone, more than twenty companies decided to join in, reported the press-centre of PWC.

In October and November 2007, Comcon conducted a survey for the Charity Instead of Gifts initiative, aimed at examining companies’ policies regarding business gifts and attitudes toward the idea of donating the gift budget to charity.

According to the survey, around 60% of Moscow companies buy gifts for clients, partners and journalists. The bigger the company, the more inclined its leadership is to set aside budget funds for this purpose. Some 90% of Moscow businesses with 200 or more employees buy corporate gifts.

The most common gifts are alcohol (72%), office supplies (69%) and sweets (68%). Some companies consider their own products (27%) or a discount on their services (30%) a good gift. Almost half of companies polled refused or were hesitant to divulge their annual gift budget. The information received from the remaining companies showed that around 20% of organisations spend more than 250,000 roubles every year on gifts for partners and clients, and 40% spend from 100,000 to 250,000 roubles.

Based on the total numbers for Moscow companies, corporate gifts is a $650,000,000 market. Currently, only 7% of respondent companies have had the experience of declining to give corporate gifts in favour of financing charitable work.

Almost a quarter of respondents would not rule out joining Charity Instead of Gifts.

This year, more than $1,200,000 has already been redirected to charitable purposes, helping improve the lives of hundreds of people in need.

This new way of ringing in the New Year in business is supported by PricewaterhouseCoopers, Independent Media Sanoma Magazines, Troika Dialog, Renova Group, Interfax, Comcon, Sequoia Credit Consolidation, Renaissance Investment Management, IFD Kapital financial group, and others.

Redirecting their gift funding to charities, the project's participants support all kinds of undertakings: expensive medical treatment for children, rehabilitation for the disabled and elderly, and cultural and educational projects.

But all the participants are united by an understanding that the money spent every year before the holidays on gifts for colleagues and partners could be put to better use. Gifts do the most good when given to those who truly need them.

The initiative welcomes new participants!

For more information on Charity Instead of Gifts, please visit www.realgifts.ru.