Why Art Is Good for Business

Corporates around the globe are purchasing, leasing and displaying art around their boardrooms, hallways and meeting rooms, but not simply to ‘outdo or outshine one another’, or to make a statement about who they are or what they stand for.

As many companies – especially those in the USA, after the US$1.5 Trillion tax cut in December 2017 – are enjoying a strong profit season and are looking to ‘pay it forward’ to the art community. From the provision of Art Sponsorship, galleries, community events even creation of ‘free exhibitions’, corporations around the globe are becoming more open to the idea of art as a vehicle for corporate social responsibility and philanthropy.

In addition to philanthropic purposes, “Corporate art collections have increasingly become a global culture currency, helping to realize and overcome differences and to relate to cultural background, symbolic language, and philosophies,” AXA’s Kuklinski says.

For many enlightened business leaders, embedding art in the business world has become an attractive way to showcase values and support culture. From Art that elicits inspiration, free spirit and innovation, through to depictions of battles & dominance designed to ‘gear up the team’ for hostile takeovers or courtroom battles, there is little that art cannot conjure.

Art has been known that “it can actually boost productivity, lower stress and increase wellbeing”, something that in today’s fast paced, high stress, high-pressure landscape is always on the agenda for HR and management teams across the globe.

According to Dr Craig Kent, “There is a real tendency to opt for sanitised, lean workspaces, designed to encourage staff to just get on with their work and avoid distraction,” he explains. But there isn’t a branch of science in the world which believes this approach boosts productivity or makes for happier workers, according to Knight. “If you enrich a space people feel much happier and work better; a very good way of doing this is by using art.”

Not only can art add social capital to your organisation, increase productivity, enhance work/life balance and inspire the workers, but it can also assist in balancing the books. As an investment, art is something that can be ‘purchased’ or ‘leased through an agent such as ‘Art Works’ to ensure that your company accountants are happy.

From diversifying your asset portfolio through purchasing art and enjoying is asset value increases as the Asian and global markets explode in volume and value of sales, your bookkeepers will love you. Once you want to ‘redecorate’ you have the opportunity to lease the works at 6% p.a on fixed term contracts realising incremental renveues for your company – all the while allowing you to purchase more and refresh or lease yourself for the freedom to change as often as you like.

Art is a valuable asset to any business on many levels, just like the desk and chair, or computer & smartphone, art has a place and a value adding capacity on many levels, speak to an expert today and find out how.

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