The purpose of the B&C Private Foundation is to foster entrepreneurship in Austria. All of the decisions taken by the B&C Group are weighed against this overarching goal.
The Austrian Private Foundations Act (Privatstiftungsgesetz, PSG) enacted in 1993, provides the legal basis for setting up private foundations in Austria. The legislature’s primary goals for the act were as follows:
- Keeping Austrian wealth in the country
- Preventing estates from being broken up
- Creating incentives for investment of foreign wealth in Austria
- Securing jobs in Austria
In line with the legislature's intentions, the B&C Private Foundation offers long-term ownership and secure development opportunities for Austrian industrial companies in which it holds or acquires direct or indirect investments.
This approach allows the B&C Group to make a significant contribution to the long-term commercial success of its core investments and, in turn, play an important role in fostering the development of Austria as a location for industry, while also helping to retain the future of corporate headquarters in the country – irrespective of any changes in ownership and other third party business or political interests.