FSB launches collaboration with Good Business Charter
Small firms have an opportunity to have their employee wellbeing, sustainability and diversity credentials acknowledged following a new collaboration between the Federation of Small Businesses and the Good Business Charter.
Firms with up to 50 employees can apply for Good Business Charter accreditation through a streamlined application process.
The new assessment has been designed in recognition of the time and financial pressures faced by small business owners, especially against a backdrop of trading restrictions and the end of the transition period.
The Good Business Charter – brain child of Richer Sounds managing director Julian Richer, who handed control of the firm to his employees in the summer of 2019 – enables businesses to have their commitment to ethical practice recognised by clients, employees and the wider community alike.
The application process consists of a short questionnaire covering:
- Pay, hours and staff wellbeing;
- Employee representation and diversity;
- Environmental responsibility, sustainability and net zero;
- Transparency and ethical sourcing; and
- Prompt payment.
“These are exceptionally hard times for small businesses. That’s why it’s so important that those who are dedicated to ethical practices are provided with a streamlined route to Good Business Charter accreditation,” said FSB national vice chair Martin McTague.
“Commitment to the charter can not only help with employee wellbeing and productivity, but also with growth. Everyone wants to buy from firms that do right by their communities and society as a whole. By securing this accreditation, firms can show that they are doing just that.”
FSB’s New Horizons report shows that over half (57 per cent) of small firms have played such a role throughout the COVID pandemic, with large numbers donating to food banks (24 per cent), directly supporting key workers (23 per cent) or signing-up to volunteer for the NHS (9 per cent).
The group’s assessment of poor payment practice in the wake of current disruption shows that the UK’s late payment crisis is intensifying, with almost two-thirds (62 per cent) of small firms suffering an increase in late payments or had payments frozen as a result of COVID-19.