Q. Three years ago I set up a small manufacturing business and have always kept my focus on profit, but I have heard that the social and probably environmental performance of my business should be looked at as well. What do you think and how do I find out more?
A.
Clyde Rogers, chief executive of Enterprise Waitakere, replies:
Taking a good hard look at your social, economic and environmental performance helps you focus on processes.
Many companies have used these reviews to identify and mitigate risks, and have improved their understanding of their key drivers for success.
The most immediate payback is often in identifying waste in your business - waste that costs you money. In particular, some companies have reduced energy use. In the longer term, sustainability audits can improve relationships with staff and can enhance your reputation.
Sustainability reporting is increasingly adopted here and overseas. Many retailers have environmental and social criteria in their purchasing policies, so businesses that already meet these criteria have a very real competitive advantage.
How can you find out more? A workshop called Sustainable Business Practice is being held on Tuesday, March 9, from 3pm to 5pm. Three successful business leaders will share their experiences of sustainable business practice, the benefits and the challenges.
It will be held at Enterprise Waitakere, Level 3, John Henry Centre, corner Catherine and Pioneer Sts, Henderson. Contact Debby or Lee on 0800-362-299.
* Email us your small business question. Answers are courtesy of Spring - A State of Mind for Business.
TIP OF THE WEEK
Keep a sharp eye on cashflow. It is the lifeblood of your business - more so than sales.
* Tips courtesy of Home Business New Zealand, which provides free online information, resources, support and networking opportunities to home businesses nationwide.
