British businesses could increase profits “substantially” by addressing their so-called “spiritual footprint”, one of the UK’s most successful entrepreneurs claimed yesterday.

Stephen Kirk, a financial commentator and author, believes the ”vast majority” of companies are ”blinkered” and ”completely unaware” of the effects they have on others.

He says many lack a ‘conscience’, and those that do should be making more of a contribution to the ”world at large”.

By doing so, he argues, company chiefs would still be ”making a living – without selling their soul”.

The self-made millionaire said there was still time to prevent a ”spiritual emergency” if ‘fat cats’ and other highly-paid executives adopted a more holistic attitude to business.

Speaking yesterday, the author of ‘Enlightened Business’, said: ”The current economic meltdown in the financial markets may be blamed on banks and governments, but at its heart it represents a spiritual emergency.

“The economic crisis is just one example of how lives are being ruined through companies and executives having lost sight of the real role of business in the world.

“Business should be about connection, creativity and fulfilment. These are hard to find in many companies because modern capitalism has made an art form out of greed.”

Mr Kirk made a ”highly-lucrative” career in TV and newspapers after developing the first premium-rate phone lines.

At its height in the 1980s, he admits that his company Broadsystem was a ”licence to print money”.

But despite his own commercial success, he warns “from personal experience” that money alone does not buy happiness.

He said: “There is nothing inherently wrong with wealth creation but this must be balanced by altruism and compassion.”

“Companies today are very powerful, and executives can use their vision to shape the world using the wisdom they have acquired through trading.”

Mr Kirk insists that companies should adopt a more traditional, spiritual approach to business – one that he developed after a successful battle with cancer.

The 57-year-old now believes that entrepreneurs and senior executives are on the “road to personal and professional ruin” unless they use business as a means of creative expression and generosity.

“Over the ten years since my illness I have re-evaluated my life and how I conducted myself. I had a calling to go into business, I found it fun as well as making a comfortable living,” he said.

“But then I went against my intuition and worked for money rather than personal satisfaction. It almost killed me.”

“Now I am content to do business I believe in and am happy to walk away from anything else, regardless of the pay cheque.”

Mr Kirk, a certified meditation teacher and executive coach, continues to be involved with companies at board level… but only those that are “harmonious” with his spirit.

He argues that working against “destiny” for short-term gain is not only counter-productive to business but also the world in general.

He said: “Trade is all about connection, but capitalism in its current form is divisive. It divides the businessman from self-fulfilment, the customer from the client, the company from community and globally, the rich from the poor.

“The results are millions in debt, soaring crime rates and terrorism. Meanwhile, technological advancements have exploited natural resources to the point of environmental disaster.

“Treating people as you would like to be treated rather than disposable assets can reverse this damage and lead to greater satisfaction for individuals within companies , customers, and society in general.”

In Enlightened Business, published by Derwen, Mr Kirk predicts that a “chaotic” international market will force struggling multinationals to join the “spiritual supply chain”, or risk collapse.

He added: “A spiritual approach is not just good practice but “essential business”.

“The growing success of small customer-orientated businesses at the expense of faceless corporations shows the way forward, but Enlightened Business must also be adopted by multinationals.”

“It’s all about making a genuine contribution to the world and sharing your fulfilment with customers, suppliers, shareholders and employees alike.

“It’s about being aware that every company has a Spiritual Footprint that influences everything in its wake.”

“Market crashes will be even more spectacular and natural catastrophes even greater until we realise we need to attune to the universal flow.”

Enlightened Business, published by Derwen Publishing, is available now from Amazon UK, priced £13.75. http://stephenkirk.org/

Tags: Enlightened Business, Stephen Kirk