“Philanthropy is good business.”

In philosophy circles that phrase might be called a “conceptual polarity” and it hasn’t necessarily been something widely accepted in the corporate world.

The phrase happens to be the title of a chapter in W. Brett Wilson’s new book, Redefining Success, Still Making Mistakes, as well as the theme of his opening address at last week’s UJA Federation of Greater Toronto event, “Taking Care of Business.”

Wilson, perhaps best known for his role as a panelist on the CBC’s Dragons’ Den, delivered the message as a guide to corporate success. For corporations, charitable giving has traditionally been seen as a liability on the balance sheet, not an asset. But that’s a perspective Wilson believes is outdated.

Charitable giving is a win-win for both the giver and the recipient, he suggested. When you look at it that way, giving is done not simply out of sense of obligation, but of opportunity. Both sides benefit.

Wilson, who co-founded FirstEnergy Capital Corp. 20 years ago, said he drew attention to his upstart company by making sure his philanthropic giving was well noticed.

Even if the amount given was modest, he made sure the cheques got in the hands of the recipients, their officers and board members and others whose attention could help benefit his company.

Currently FirstEnergy gives two-and-a-half per cent of its pre-tax income to charities – substantially more than other corporations – but it doubles as advertising for the company, he said.

“I believe that companies will become better – and bigger – donors when they start seeing community giving as an opportunity rather than any sort of obligation,” he writes. “For those who might disagree with me, think hard about this: charitable giving that in turn reaps an economic return creates stronger companies that can make more meaningful contributions to their communities in the long run.”

Since 1993, when FirstEnergy was founded in Calgary, it has provided, one way or another, more than $10 million to more than 500 charities or community organizations.

Wilson said individuals interested in supporting charities can give time, money or leadership. He provided a new spin to the familiar aphorism that with great wealth comes great responsibility; or that businesses should adopt the concept of corporate social responsibility. As he would have it, with great wealth comes great opportunity and companies should practice corporate social opportunity.

Growing up in North Battleford, Sask., Wilson was exposed to philanthropy at an early age, though he didn’t know it at the time.

His parents were active in their community, involved in bake sales and other benevolent endeavours.

“They were active in every way they could,” he said, though it wasn’t until later that he realized their involvement was far from the norm.

That planted the seed for his future philanthropy. Along the way, he developed prostate cancer. He has a unique way of looking at it: “I consider myself a prostate cancer graduate,”not “a survivor,” he said.

Wilson has raised $3 million for prostate cancer research as well as raising awareness for the cause, and in doing so, “changed the face of philanthropy in Calgary,” he said.