Rethinking Profit & Purpose This MSME Day
What's Your Social Value Score? |
Hello there, grab a pen (or just play along in your head)!
Today, June 27th, is Micro-, Small and Medium-sized Enterprises (MSME) Day, recognised globally by the United Nations (A/RES/71/279). It's a day to acknowledge the immense contribution of businesses like yours to the community development, economic development and beyond.
But beyond the official recognition, let's get real about what your business is doing. Take this Quick Check-in Quiz to see where you stand on the power of social value:
The Social Value Quick Check-in Quiz:
For each question, give yourself a score from 0 (Not Really) to 5 (Absolutely!):
Local Sourcing: Do you actively prioritise suppliers from your local town or region?
(0) Not really, I just go for the easiest/cheapest.
(1-2) Sometimes, if they pop up.
(3-4) Yes, I make an effort to find local options.
(5) Absolutely, it's a core part of how I operate.
Inclusive Hiring: Do you look beyond traditional recruitment channels to give opportunities to individuals who might face barriers to employment (e.g., long-term unemployed, care leavers, individuals with disabilities)?
(0) Not specifically.
(1-2) We hire anyone who applies, with no special focus.
(3-4) Yes, we actively try to broaden our talent pool.
(5) It's a deliberate part of our recruitment strategy.
Team Wellbeing & Growth: Do you invest in your team's development, offer flexible working where possible, and actively support their wellbeing beyond basic requirements?
(0) We stick to the basics.
(1-2) We offer standard benefits.
(3-4) We try to go above and beyond for our staff.
(5) Our team's well-being and growth are central to our culture.
Community Engagement: Does your business actively participate in or support local community initiatives, charities, or events?
(0) Not really, we're busy.
(1-2) We might donate if asked.
(3-4) Yes, we try to get involved when we can.
(5) We are a genuine pillar of our local community.
Environmental Care: Do you consistently work to reduce your business's environmental impact (e.g., waste reduction, energy efficiency, sustainable materials)?
(0) Not a priority right now.
(1-2) We do a few basic things.
(3-4) Yes, we make conscious efforts.
(5) Environmental responsibility is baked into our operations.
Transparent Values: Do you communicate why your business exists beyond just profit, sharing your values and vision with your employees, customers and the community?
(0) We mostly talk about products/services.
(1-2) We have values, but don't shout about them.
(3-4) Yes, we try to share our broader purpose.
(5) Our values and positive impact are central to our brand story.
Add up your points!
0-10 Points: The Silent Contributor. You're likely doing good without fully realising or leveraging it. There's a lot of untapped potential!
11-20 Points: The Conscious Creator. You're on the right track, integrating some fantastic practices. How can you amplify this?
21-30 Points: The Purpose-Driven Leader! Your business is a true force for good, strategically integrating social value. Now, let's ensure you're fully capitalising on this incredible asset.
So, What IS Social Value in Small Business?
Whether your score was 5 or 25, here's the truth: if you run a small business and you've even thought about these questions, you're almost certainly generating social value.
For small businesses, social value isn't some extra, fluffy initiative or buzzword. It's the positive ripples your business creates for people, for the planet, and for your community, woven right into the fabric of how you operate.
Think about it:
When you buy locally, you're not just getting supplies; you're strengthening your local economy, supporting other small businesses, and making your supply chain more reliable. That's good for profit and makes your business more resilient.
When you invest in your team, offering fair wages, good conditions, and opportunities to grow, you're not just being a kind employer. You're building a loyal, productive workforce, reducing turnover, and creating an amazing reputation as a place to work.
When you reduce waste or use sustainable materials, you're not just being "green." You're often cutting costs, meeting customer demand for ethical products, and future-proofing your business against rising environmental concerns.
These aren't just "nice-to-haves." They are direct contributors to your business's long-term growth.
Why Does This Matter for Your Bottom Line?
Because the world is changing. Customers are savvier, talent is pickier, and even investors are looking beyond just immediate profit.
Customers choose you: People increasingly want to buy from businesses that align with their values. Your social impact can be your unique selling proposition.
Attract & keep the best talent: Employees want purpose. Businesses that demonstrate strong social values attract and retain highly engaged, productive teams.
Future-proof your business: As regulations shift towards sustainability and social responsibility, businesses already embedding these practices will be ahead of the curve.
Unlock new funding: A growing number of lenders and investors are actively seeking businesses that can demonstrate measurable positive social and environmental outcomes.
Your Business, Your True Potential
Each local coffee shop, every independent tech firm, and every family-run service contributes to the strength and well-being of our communities in countless ways.
This MSME Day, let's shift our perspective. Don't just tick the boxes of doing good. Instead, start seeing the good you do as a core. Look beyond profit as your sole measure of Growth.
Final Thought:
This MSME Day, let's take a moment. Don't just ask: "Are we doing good for society?"
Instead, ask yourself:
If that question sparks a "not quite yet," or a "how can we do more?" then now is the perfect moment to shift your thinking. Because in the years to come, the businesses that truly last won't just be the ones making the most profit. They'll be the ones that genuinely matter the most to their communities and the wider world.
Want to chat more about how to highlight and use your business's social value?
We'd love to talk. Book a call with us