How small business can benefit from responsible business practices

Small to medium sized enterprises (SMEs) form the backbone of the Northern Ireland economy, accounting for 98% of the total number of businesses and employing 67% of the workforce. Even though as many as 95% employ fewer than 10 people, small businesses make a significant contribution to the economy.

For many large organisations, it is a hard enough trying to weather the recession whilst maintaining the highest standards of responsible business and best practice. Expecting smaller businesses to aim for responsible, sustainable development in the current economic climate may just seem like a step too far.  

Or is it? What does responsible business practice mean? Broadly it means achieving commercial success in ways that honour ethical values and respects people, communities and the natural environment. In practice it means acting responsibly to protect the environment, contributing to the community and developing a healthy, happy and well-trained workforce.

Some small businesses may feel that they are too small to make any difference or they don’t have enough time or resources. For others, it may seem too bureaucratic or perhaps it’s just a case of keeping focused on running the business with little or no time for anything else.

Actively developing a culture of responsibility in a business is not just for large corporations. The impact this can make on the triple bottom of people, profit, planet for all businesses is not a waste of time and money. It makes better business sense for all businesses, regardless of size, as the pay back includes enhanced reputation, increased sales and better staff retention.

By demonstrating interest in the health and well-being of your employees, your community and the environment, you can attract and retain motivated and committed staff, improve your reputation and make savings from energy and waste reduction. If the aim of business is to gain a competitive edge in order to win and retain more customers, isn’t responsible business practice the best way to achieve this?

So where can you turn for help?

The Connections programme can offer small businesses a range of best practice seminars and also 12-15 hours of free mentoring support.

To find out more about Connections, please contact e-mail heather.major@bitcni.org.uk or on (028) 9046 0606.