Small Business Social Responsibility: 3 Main Benefits and 5 Smart Ideas

July 14, 2020

As a start, small business social responsibility does not always have to be donating millions of dollars to a non-profit organization or planting 1000 trees. It can be as simple as setting up more recycling bins, minimize the amount of waste or switch to energy-saving light bulbs. There go 3 simple ideas you can start to implement, keep reading to find out more!

Why Small Business Social Responsibility Matters

These days, people are getting more conscious regarding the issues that are going on with the environment and community. It is no surprise that consumers, employees, and stakeholders are getting more aware of their purchases. Though CSR might be a popular practice among large businesses, many small and medium businesses are also starting to implement social responsibility initiatives and obtain the benefits.

Small Business Social Responsibility Benefits

BENEFITS of Small Business Social Responsibility

1. Better Brand Reputation

It is important for targeted market and public in general to have a positive perception towards a business. Besides delivering quality products and services, companies with social actions usually gains better media coverage. That is already one way to advertise the company. Getting good press through contributing for a good cause is one of the best ways to gain company’s awareness.

2. Increase Sales and Profit

CSR can be part of the business’s unique selling point. Customers who are more socially conscious are likely to buy from a business with social initiatives over competitors without any. Additionally, they would not mind paying slightly more because they care about society.Psst... you may also be interested in THIS BLOG if you are looking for ways to increase sales.

3. Happier Employees

It is psychologically proven that when a business is more than just making profits but also doing a good cause to improve the world or even just the community, employees are going to be happier with their job and work harder knowing their contributions bring a positive impact.There are plenty of activities in which SMEs can start building their social actions. The first step is to decide what kind of social impact does the business wants to contribute.

Small Business Social Responsibility Ideas

Ideas of Small Business Social Responsibility

1. Environmental activities

Focusing on the environment such as zero waste, recycling of packaging, pollution reduction, and complying with environmental regulations.

environmental activities for Small Business Social Responsibility

2. Philanthropic and volunteering activities

Social responsibility such as building partnerships with non-profit organizations, investing on educations, sponsoring hospitals and donating money or products for social cause.

Philanthropic and volunteering activities for Small Business Social Responsibility

3. Internal working ethics

Improving working policies and conditions such as a work-life balance of employees, job security and support for personal issues.

Internal working ethics for small business social responsibility

4. Honest marketing

Avoid ambiguous marketing on advertisement or product labels and greater clarity in after-sales services.

Honest marketing for small business social responsibility

5. Ethical sourcing

Know where the materials of the products came from, how is it made, constant monitoring and reviews, and avoid suppliers with underpaid employees.

Ethical sourcing for small business social responsibility

Having CSR implemented on the business is one thing, but making the program known by public is another thing. Don’t be afraid to get the benevolent things the business has achieved, known to public. Make use of the socially responsible feature, a competitive advantage in the market. Mention it on company’s website, social media, advertisements, and PR. It is important to show facts and figures to what you have achieved. It does not necessarily have to be a major transformation, customers will be happy to see that the business is taking small steps to create a real impact.

United Nation Sustainable Development Goals as a guide for your CSR programme.Tips: One CSR activity can be a collection of a few UN goals combined.Source:

To Summarize...

CSR activities to a business is more than just creating a good brand image, boost revenue or another marketing material. It meant a lot to the society and environment the business is impacting. Investing on CSR activities creates a sustainable development for the business and sustainable living for the community.At Aspire, we envision a world where business owners have fast and simple access to the funding they need to grow. That’s why we’re on a mission to re-invent banking for SMEs across Southeast Asia. Our current product provides SME and startup owners in Singapore with financial flexibility through a line of credit of up to S$150k. Which, can also be used to make business payments to enjoy 60 days free credit terms. With no monthly fees or obligations to withdraw, you only pay interest on the amount you end up using. Opening an account is free and can be done online here.

Unlock a credit line up to $150k with Aspire Today
Ready to get started?
Aspire makes business finance easier - expense management, invoicing, FX, employee claims and more. This is the all-in-one finance OS for your business
Try it out today >>
Get high quality finance and entrepreneurial resources in your inbox.
Subscribe to the newsletter >>

Get high quality finance and business content in your inbox

Get insights and resources on building & managing your finance team, your finance tech stack and growing your business
Cheers! We'll share our best articles with you shortly. See you around!
Seems like something went wrong. Could you try again?

Explore the all-in-one finance solution built for finance teams

Save time and money with borderless payments, corporate cards, expense management, and more