Small Business Research and Enterprise

Author: Sophie Medd, Heart of the City.

Heart of the City is a charity that supports SMEs to be a force for good. Through workshops, one-to-one support and expert mentoring, they can help you take your first steps towards making responsible business a meaningful part of your work.

Starting a business is an exciting and challenging endeavour, and it’s important to approach it with a sense of responsibility to all stakeholders involved. This includes not only the people who will be working for and with the business, but also the communities and environments in which the business will operate. This concept is known as triple bottom line or “people, place, planet,” and it refers to the three pillars of sustainability: social, environmental, and economic.

The importance of responsible business practices cannot be overstated. Not only do they help to create a more equitable and sustainable world, but they can also lead to improved financial performance and increased customer loyalty. Here are just a few reasons why it’s important to prioritize people, place, and planet at the start of any business:

Ethical and fair treatment of employees

Ensuring that your business treats all employees fairly and ethically is not only the right thing to do, but it also leads to better employee retention and increased productivity. By creating a positive and inclusive work culture, you can attract and retain top talent and foster a sense of loyalty and commitment among your employees.

Community involvement and support

Businesses have a significant impact on the communities in which they operate. By taking an active role in supporting and giving back to the community, businesses can create positive relationships and foster a sense of trust and loyalty among local residents.

Environmental sustainability

With climate change and environmental degradation becoming increasingly pressing issues, it’s more important than ever for businesses to operate in a way that minimizes their environmental impact. This includes reducing energy consumption, minimizing waste, and using eco-friendly materials and practices. By taking steps to reduce their environmental impact, businesses can not only reduce their own costs, but also improve their reputation and appeal to environmentally conscious consumers.

Why is this important?

Prioritizing people, place, and planet at the start of any business is essential for creating a sustainable, equitable, and successful business. By treating employees fairly, supporting the community, and minimizing environmental impact, businesses can not only do their part to create a better world, but also set themselves up for long-term success.

Support implementing these values

If you want to improve your social and environmental impact, build a positive reputation and access expert guidance and support then why not contact me or any member of the team at Heart of the City.

We have plenty of free resources on our website covering all aspects of responsible business. We even have a free climate action toolkit developed specifically with small businesses in mind. Our two flagship programmes have been developed to help you build and deliver your responsible business strategy and our climate action for SMEs helps you get on the journey to Net Zero. We have a number of free spaces for businesses in specific locations, including the City of the London, or alternatively you can gain access to our programmes and network for a small fee.

Participating in Fairtrade Fortnight demonstrates a business commitment to ethical and sustainable practices, helping to raise awareness about the importance of fair trade, and if you want to embed your commitment long term, don’t hesitate to get in touch with us. We look forward to hearing from you soon!

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*We strive to do our best when supporting small business and their growth. Our business databases can give you information and data that can help you with advertising, market research, company information, and industry factsheets. If you have already taken the plunge, we would love for you to join us at a seminar, our workshops cover digital marketing, business model canvas and planning, demystifying taxes and intellectual property to name a few. Visit our events page or website for more information.