In recent years there’s been a noticeable increase in businesses that generate ‘profit for purpose’. These are businesses that are keen to grow their social and environmental impact alongside their profits, operating sustainability with future (as well as current) generations in mind.
This is a welcome challenge to previous profit-maximising and short-term-ist approaches to business, but the ethics of business owners wanting to do right by the communities they impact is only one factor. The growth in this movement is driven by conscious consumers who want businesses to operate more ethically and are willing to support them to do this – 49% of consumers are willing to pay more for sustainability (Deloitte, 2022).
With customers’ interest and knowledge growing it’s important that businesses are able to answer the questions asked of them regarding the impact they create or, better yet, pro-actively inform their customers of the good their doing and how spending with them will help them to increase their impact.
The More Than Money lunch-and-learn series, hosted by Louisa Burman for Liverpool City Region’s Business & IP Centre, will help new and small businesses to understand what social impact is and how it applies to them It will also provide actionable examples of how they can improve their own social impact. You can benefit from attending all three sessions or just one!
During this second session, ‘Understanding the types of social impact which best align to your business’, we’ll cover:
- What social impact and social value mean;
- Why understanding social impact is becoming increasingly important for businesses;
- The most common and significant ways that businesses generate social impact;
- The benefits of adopting internal and external social impact reporting, including examples.
There will also be time at the end of the session to ask general questions or questions specific to your business.Register here