It’s a global trend: consumers want to buy from, employees want to work for, and other businesses want supplies from, socially responsible enterprises.
“Privately held businesses are adopting corporate social responsibility (CSR) policies not just to save the planet but because they are having to in order to survive and prosper,” according to the Grant Thornton International Business Report, which is based on a survey of more than 7,400 companies around the world.
Some of the reasons for adopting CSR policies? Recruitment and retention of employees, and cost-management concerns. The conclusion: “Controlling costs is not only good for business but also good for business ethics”. The environment, sustainability and renewable energy are big business!
Small-business owners can use the CSR trend to improve their own businesses and stand out from competitors by being perceived as being environmentally friendly businesses.
There are a number of ways which your business can become more environmentally friendly, a selection are discussed below:
1. Support the local community
No matter where you are located, your local community will be looking for companies to support their initiatives: a local school looking to build a science block, a sports club looking for sponsorship in return for advertising, a donation to a local charity, a historic restoration project. Small businesses can contribute to these causes by offering donations, prizes, fund-raising or even physical support at events (which can have a positive effect with employee satisfaction and motivation)
The smaller you are, the more important and rewarding such partnerships can be: supporting such initiatives can help raise your profile, create good feeling within the community and potentially lead generation!
However, research is key. Make sure the cause is one that matters to your target clients, and then make sure they know about your efforts! Ask to have your name on any advertising that goes out; add your involvement onto your website with a link to the charity or project. Communicating your efforts is key!
2. Donate profits to charity
Look to donate a percentage of your profits to a fund-raising event or adopt a charity. Charities large and small are always looking for support both financial and non financial. This not only creates a positive local PR story but can have tax benefits too (for more information on how we can help with tax issues visit our tax micro-site, http://tax.harwoodhutton.co.uk/ It also opens doors to meet potential clients! However, ensure that the events you attend and support will attract your target market!
3. Go green
Changing your light bulbs, cutting down on air-conditioning, dimming the lights and recycling are cost-saving strategies that should be adopted and advertised. Clients are becoming more and more aware of CSR and like to use companies who value the environment; sustainability, renewable energy and the business environment are big business. Consider getting a free green company health check http://www.greenachiever.co.uk/company-health-check.html
4. Treat employees well
Fair employment practices are part of social responsibility. Employees who feel valued because they are paid fairly or treated as an asset will reflect this in the way in which they deal with potential and existing clients. Motivated and enthusiastic staff are great spokespersons for your firm.
5. Buy from socially responsible suppliers
Businesses – big and small – have begun instituting CSR policies. That means they need to buy from businesses that also have “clean” supply lines. Let that be you. And retail customers – especially Generation Y and women – have indicated a strong preference, to the point of switching to businesses that are socially responsible.
6. Collaborate and communicate
Join socially responsible business groups in your community or sector. Your fellow business owners can give you ideas for improving your social responsibility, and you may also increase your B2B sales. If you don’t have the time to invest in attending networking meeting – use the web. Business networking tools such as LinkedIn have a huge number of on-line networking groups already established. You can even create your own group!