The expectation on businesses to be more than just profit-makers has never been greater. Growing demands for Corporate Social Responsibility mean that companies are accountable not only for the economic consequences of their activities, but for their social and environmental implications.
While most of us would like to give more, many small business owners feel that they simply don’t have the capacity – that corporate philanthropy is for the big players, not small to medium sized businesses. But ‘giving back’ isn’t about shelling out big wads of cash. It comes down to purpose, intent, and longevity.
So how can small businesses be a force for good and embrace both commerce and compassion with lasting effects? Read on to find out.
A purpose-driven company is one that has a clear mission driving its strategy and decision-making and informing its values and goals. Consider it your business’s ‘North Star’ – the guiding principles that, when clearly articulated, create a common goal for staff and stakeholders and filters down into company culture.
Purpose-driven initiatives are a company’s purpose put into action. They are activities aimed at making a positive impact outside of the business that align with the company’s values. These can include environmental, social, and governance (ESG) issues (like climate change, diversity and inclusion), supporting local charities, and ethical business practices.
As small business owners, corporate philanthropy might feel like yet another item on the long list of leadership responsibilities, but engaging in meaningful initiatives that give back to society can in turn give back to your business by:
So how can your business find its purpose, and in turn, meaningful initiatives that last?
A RAP is a strategic document that sets out an organisation’s practical contribution to reconciliation with First Nations peoples. Developed with Reconciliation Australia, RAPs are a defined commitment to implementing lasting change, and can include a number of elements depending on the organisation’s goals.
Cumulus Studio Pty Ltd, Hall & Wilcox, Accenture Australia and NRG Cleaners are just a few of the different sized businesses with formalised RAPs.
Pro bono work isn’t just for big business. Smaller businesses often offer specialised areas of expertise, have offices in regional areas, and are less likely to be conflicted out of work than the larger business. A pro bono offering is a tangible way of targeting the ‘social’ aspect of ESG issues by making meaningful impact to under-resourced communities.
Massons, a Sydney-based boutique law firm, is demonstration of how a business specialising in property law could establish a pro bono program in partnership with Human Rights For All. The program went on to win the 2023 Australian Law Awards Pro Bono Program of the Year against larger firms like Norton Rose Fulbright, Corrs and Gadens.
To learn how to go about setting up a pro bono practice, the Australian Pro Bono Centre offers guidance to businesses of all sizes seeking to develop their own programs.
Want to kick-start your journey on a smaller scale? There’s an array of charities and non-for-profits with corporate volunteering initiatives to align with your business’s purpose, ranging from ongoing partnerships to one-day programs. Consulting your team and returning to your business’s values and mission will help determine what program makes most sense for your organisation.
Consider: Foodbank, Fare Share, the Cancer Council, The Lost Dogs Home..
You don’t have to wait to establish a full-scale business plan before giving back. Donation drives centred around those experiencing hardship or children in out-of-home care are a simple yet impactful way of engaging your team and business to think beyond the workplace at a sensitive time of year.
Consider: Berry Street, The Salvation Army Christmas Appeal, Launch Housing.
Meaningful, purpose-driven initiatives take time and consideration of works best for both businesses and beneficiaries. But when done well, with sincerity and thoughtfulness, the results can indeed pay dividends.
