10 Reasons Why Businesses Should Invest in Artwork in 2024

6) Invest in Artwork: Show You Care

Businesses may be put off by the financial commitment and scheduling challenges associated with art, but they are passing up a great opportunity. As a leader, your credibility can be enhanced by displaying artwork in the workplace.   Furthermore, it validates these values by allowing employees to visually interpret a company’s culture.

Artwork adds a human element to the environment, making it more welcoming. Do you take any other steps to show your employees how much you appreciate them if you do not have art in your office? Are you willing to spend money to make their workspace more appealing? 

Companies of all sizes can improve their performance and brand image by acquiring and building an art collection. Being socially accountable to oneself and one’s stakeholders, as well as caring enough about one’s community to invest in it, is widely recognised as an essential component of any organization’s Corporate Social Responsibility (CSR) plan.

Additionally, studies have found that allowing employees to submit and share ideas when choosing to invest in artwork can enhance their sense of control. As a result, they gain a sense of agency that can help boost their performance and improve workplace relationships. This can attract and improve employee retention, by making the business a desirable employer.

7) Invest in Artwork: It Can Be Lucrative 

Artwork grows in value over time and can become a valuable asset. If you invest in artwork, you may be able to reap great benefits in the future. If you ever find yourself in trouble, simply sell your artwork!

Aside from that, purchasing art can help you save money on your taxes. Did you know that you can qualify for certain tax breaks by purchasing art, and that it can even be written off as a business asset? Discuss this with your accountant.

An art buyer in Ireland, for example, can deduct the cost of an artwork from his or her tax bill if the artwork is displayed in a public place. Canteens, reception areas, and common access meeting rooms are all suitable locations.

Creating a company art collection is a very tax-efficient investment. The annual wear and tear allowance on this capital expenditure is 12.5% per year at the time of writing, so the majority of the purchase price can be recovered.

When compared to typical capital investments made by any business, such as a photocopier or audio-visual equipment, which will lose value over time, your original artwork may actually increase in value.  As a result, your business recoups the expenditure of artwork, in addition to any other tax allowances. 

Maybe it is time to take a look into art as an alternative investments opportunity!

8) Invest in Artwork: Make your Office or Building More Attractive

There are numerous advantages to having art in your office. Art can create a relaxing environment in the workplace that encourages creativity and collaboration. Art is an excellent way to decorate and enliven a space.

Offices can often appear to be a maze of desks, hallways, and doors. Our brains are capable of easily remembering environmental features that serve as landmarks, allowing us to recall our journey through a workplace. It is also helpful when giving directions, especially to visitors or new employees.

Let us face it: most buildings and offices are hideous. In fact, many of them are monstrously ugly. You can make the space more appealing by hanging art. Your customers and employees will appreciate it. After all, the physical space in which you work can have a significant impact on your success. 

No one wants to work in an ugly or depressing environment, and art can help to alleviate this. You can decorate your office in a variety of ways.

9) Invest in Artwork: Remain Humble & Non-Elitist

Only businesses on the rise can afford art. Having art on your walls communicates to the outside world that your company is successful (or at least that you are on your way to being successful). Furthermore, art helps to convey positive messages about your company. Art, like ergonomically comfortable office furniture, should be considered a necessity for your company.

Through art, you can gain an understanding of the social, economic, and political aesthetics of the world. This is a good inspirational fit for businesses that are constantly coming up with new ideas for clients and reacting to what is happening in the world.

People who look at art are not necessarily more creative as a result, but it does engage them on a more intellectual level in discussions about global innovation.

10) Invest in Artwork: As it is Impressive

Fantastic art is always impressive. Remember, first impressions are everything, and art can be a huge factor in getting clients to notice and say wow! The right art will always impress people and give them something to talk about. Art should be enjoyed by everyone, whether it is your employees, customers, or even the cleaning lady.

The bottom line is that having art in one’s office should be a goal for everyone. Although investing is an art in itself, art can end up being a sound investment that is actually less expensive than you might think. It makes no difference what kind of business you have.