UK SMEs lag behind on ethical sourcing
UK small and medium-sized companies continue to fall behind their European counterparts in the ethical sourcing of goods and services, new research can reveal.
The UK lags behind the EU average of 15% when it comes to ethical sourcing, with only 9% of businesses checking that they only use suppliers with a social conscience, according to a survey of nearly 4,500 SMEs across Europe undertaken by Grant Thornton.
UK SMEs, however, are now finally embracing corporate social responsibility, despite restricted resources and time.
Andrew Godfrey, head of international and European services at Grant Thornton, said: ‘These results show that smaller businesses have a genuine regard for the communities in which they operate.
‘Most SMEs will not even recognised the term CSR but at the same time are quietly, and without hype, moving towards making their businesses formally socially and environmentally responsible.’
Findings showed that 41% of UK SMEs have a formal environmental policy which matches the EU average, beating France and Ireland but still much lower than Scandinavian countries.