Published: June 28, 2018
Unity Trust Bank share results from a research study that provides deep understanding of what it means to be a ‘Socially Conscious Business’.
The study establishes the characteristics of organisations with a social conscience in the UK, with the ultimate goal of dispelling some myths that dominate this sector. The report analyses the differences between mainstream and socially conscious businesses, as well as identifying the size of the market for those with a social conscious, and providing evidence of the challenges they face.
The survey found that almost one in four businesses (22%) have social or environmental objectives as their main motivation. These Socially Conscious Businesses, taken as a proportion of UK businesses equate to a total of 1.2 million businesses. This figure increases to 66% (3.6m of all businesses) for businesses that are either motivated by the desire to produce a positive outcome for stakeholders or to make a difference either socially, environmentally, or in terms of job creation.
Socially Conscious Businesses are creating jobs, addressing education, health and welfare issues, as well as environmental issues. They have the potential to ‘step-up’ and address the biggest social and economic challenges that UK society is currently facing. You can read the full report here.
Margaret Willis, CEO of Unity Bank said, “I am delighted to see so many businesses stating that they are focussed on producing positive outcomes for stakeholders or making a difference. As an ethical bank that works exclusively with organisations and businesses seeking a positive social impact, we look forward to supporting such organisation to help create a better society.”
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