Corporate social responsibility for your small business | SupportBiz

Managing Growth

Corporate social responsibility for your small business

 
Choosing and undertaking social responsibility initiatives might not seem like a great idea given the limited budget and manpower at a small company, but it is definitely worth the effort. For one, corporate social responsibility (CSR) initiatives help you work with a perspective higher than just doing business and making profits – for the greater good of the society – thus boosting employee morale.

CSR also helps you earn the respect and goodwill of the society, thus adding a lot of value to your marketing efforts. Here are some tips for you, as a small business owner, to choose and undertake the right CSR initiatives.

Determine a budget

It is important to determine a budget for your CSR initiatives. Ensure that all the activities you undertake fall within the pre-determined budget, so that there is no financial burden on you.

Think of impact

Before deciding on a CSR initiative for your small business, think clearly about the impact that you want to make through it. Do you want to be better known in the society? Do you want better acceptance of your product? Do you want to mitigate the unavoidable environmental impact of your business? Do you want to contribute to the good of the environment and the society? Taking time out to think of the purpose of your CSR initiative will help in choosing the right activity.

Research

Thorough research will help you figure out the different kinds of activities that you can undertake as a part of your CSR campaign. You should also study the CSR activities by your competitors. This will add to your knowledge, opening up vast avenues of opportunity for you.

Determine specific activities

Once you have done your research and decided on the impact you want your CSR initiative to make, you should determine the specific activities that you want to undertake.

It is a good idea to undertake an activity which will help you fulfil your CSR at the same time as creating awareness about your product. For instance, if you are a manufacturer of notebooks and other educational materials, you could sponsor the education of children in a few underprivileged villages. You could distribute free kits of your products to the children, leading to increased acceptance of the same as well and the fulfilment of your CSR.

Involve your employees

You should let your employees know about the activities you plan to undertake as part of your CSR initiative, and motivate them to take part in the same. This leads to a tremendous increase in employee morale.

Ensure nil impact on productivity

It is crucial to ensure that involvement in the CSR activities will not lead to any decline in the productivity of your employees, and that there is no impact on your core business activities. Communicate the same clearly to your employees.

Measure results

You should measure the impact of your CSR activities periodically, and communicate the same to your employees as well as the local community. This will also help you determine what you are doing right; and what you are doing wrong; and help you make changes to your CSR campaign if required.