Running an Ethical Business in 2019

June 18, 2019

Making the choice to run a business is one that takes courage. You’re delving into the unknown with nothing but a couple of tools and a dream. When your idea finally materializes, and you begin offering products and services, it can be a great feeling. This may especially be true if you’re niche is something you’re passionate about and feel aligned with your purpose in life. For those looking to run an ethical business, here’s how you can do so in 2019.

Make Ethical Products

If you happen to be a business that makes products, then you should ensure that you do so ethically. For those who don’t know what that means, it essentially refers to making sure that the ethics behind your product are both legally compliant and socially responsible. A good example would be making sure that if you use natural resources, they’re recyclable or renewable. When your products are made ethically, you’re more likely to gain loyal customers as well.

Improve Customer Service

When it comes to running your business ethically, this means treating anyone associated with your business respectfully and fairly as well. Ensure you’re not crossing boundaries and that respecting any rights they have as a way of being ethical. You can do this by educating your employees as well as monitoring interactions and taking complaints seriously.

Nevertheless, seeing as you can’t please everyone, you should make sure you get indemnity insurance. For those asking “what is indemnity insurance?”, find out more through reputable insurance provider Hiscox. Essentially, it helps protect your business in the event that a client feels the work given or advice provided is inadequate.

Be Socially Responsible

Giving back to the community is a must if you want to run an ethical business. Think about how you’re giving back as an organization, even if it’s only in the smallest way.

Knowing that you’re running a business in a way that is giving back to the community and its customers can be a great feeling. It can make you feel better, mentally, and emotionally. Below are a few CSR initiatives that you could potentially try.

Give Back to Charity: When it comes to being socially responsible, one of the most common routes is to volunteer at a charity. You can also partner with them by contributing financially or through offering goods for a campaign or initiative.
Be Eco-friendly: As mentioned briefly earlier, choosing to use recyclable materials to make your products is also a way to be socially responsible. If you have an office space, you could also commit to running it in a greener way such as by using renewable energy, going paperless, and conserving energy.
Ethical Labor Practices: Aside from giving back to charity and being eco-friendly, it’s also advisable that you adopt ethical labor practices. Make sure that people who are producing your products or delivering services aren’t overworked and are compensated fairly. This is especially true if your business operates in a country that has different labor laws than your home country.