A New Revolution: BrewDog 'Unicorn Fund' Sees BrewDog Give Away 20 per cent of All its Profi
Updated: Dec 10, 2020
Independent craft brewer, BrewDog today announced that it will give away 20% of its profits every year; 10 per cent will be shared equally among its staff, and a further 10 per cent will be issued to charities chosen by the brewer’s 1,000-strong workforce and 57,000 Equity Punk investors
BrewDog’s approach to business has followed an anti-establishment route over the past 10 years since its inception in 2007, and its Equity for Punks crowdfunding programme is what has powered the brewer’s unprecedented growth.
If the brewer achieves its projected targets, BrewDog will give away in excess of £45million via the Unicorn Fund in the next 5 years alone.
The brewer will reinvest the balance of its profits into the business for at least the next 7 years.
BrewDog also plans to inspire other businesses to follow suit, challenging the impact a CSR policy can really have.
BrewDog has been the fastest growing food and drinks company in the UK for the last five years, and its rapid growth has been underpinned by strong profits, most recently, £7.1 million in 2016.
Of the total 10 per cent of profits donated to good causes, five per cent will go to charities chosen by BrewDog’s Equity Punk investors, and five per cent will be issued to charities chosen by its global team of employees.
According to BrewDog co-founder James Watt:
“At BrewDog, we care about two things above all else; our beer and our people. We want to make the best beers on the planet, we want to be the best company to work for, and we want to build a radically new type of business that we can all be proud of. Giving away 20% of our profits – forever – is not about altruism. It is about impact. It’s not about profits. It is about purpose. This is the biggest community-fuelled, crowdfunded charity contribution in history.”
“Outdated CSR policies have zero consideration for their real-world impact, existing merely for the purpose of an oversized cheque and an awkward photo shoot. This is a call to arms for businesses to democratise the impact their charitable contributions can have on their community, their people, and the world.”
James Watt added:
“In our tenth year at BrewDog, we hope to inspire a new kind of business with the Unicorn Fund; one that doesn’t measure profit in purely monetary terms. Our mission for the next decade at BrewDog is not simply to redefine the beer industry, but to redefine industry itself.”