Posted on: 06 November 2020
Simple steps you can take to improve business ethics
In the business world, ethics usually refer to how businesses deal with practices such as bribery, discrimination, insider trading and corporate governance.
Recent consumer behaviour research indicates that there is an increasing consumer focus on brands doing good. For this article, we will be showing you how to make your business more ethical when it comes to social responsibility and environmental sustainability.
What can you do to make an ethical and sustainable business?
Get involved in your community
Giving back to your local community is just one of the ways that your business can show some social responsibility.
Helping out the people in your community can have many benefits for your business. Here are some of the things that you can do within your community:
- Use your expertise to provide workshops and informal training.
- Use your business assets to help. For example, use a commercial van to help move or deliver items.
- Crowdfund for services or products that can benefit your community, such as litter picking, food collections for the homeless and transport services for those who struggle to travel.
- Create a community newsletter.
Using your business to help the community will not only help you to give something back to your community but will also enhance the reputation of your business.
Choose a charity partner
Being a donor to charities is one way of helping some worthy causes, but why not go one step further and choose one charity to raise money for over a set period of time. The charity that you choose is completely up to you but it could be something close to your heart that you or a family member supports.
Host charity fundraising events throughout the year to help raise money.
Most charities will have a designated contact who will help you set up a partnership where they can give you promotional items or digital files to use.
Premierline’s parent company, Allianz UK, currently has a charity partnership with mental health charity, Mind, which started in 2018, with the target of raising £1m over the three-year partnership.
Upcycle rather than recycle
Recycling is an important part of helping to save the environment, but the process can be costly, time-consuming, and even create more pollution in the process.
Upcycling is a way of taking unwanted products, by-products, waste or useless materials and turning them into something that you can sell on, or even use yourself.
Find items to upcycle on places like Facebook Marketplace, Gumtree or eBay, or even explore your local charity shops if you want to help that charity even more.
Be open to feedback
You should stick to your values as a business but you also need to take feedback seriously and act on it to make sure that your business’ values are in line with your customers’. Gather feedback from customers using surveys, feedback cards or online reviews.
Keep an open line of communication for feedback that ensures that it can reach senior members of the company who can implement changes to make a positive impact.
Business insurance with Premierline
It’s important to make sure that you have the right insurance in place to protect the business that you have built.
Every business is different and has its own business insurance needs, which is why we work with some of the UK’s most well-known insurers to make sure that you are getting the right insurance cover for your business.
Compare business insurance
The information and tools contained in this guide are of a general informational nature and should not be relied upon as being suitable for any specific set of circumstances. We have used reasonable endeavours to ensure the accuracy and completeness of the contents but the information and tools do not constitute professional advice and must not be relied upon as such. To the extent permitted by law, we do not accept responsibility for any loss which may arise from reliance on the information or tools in our Insight Hub.