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Small business owners - how big is your commitment to ethics?
By Lauren | May 4, 2009
It’s National Small Business Day, a day to celebrate businesses that provide everything from dog walking services to boutique clothing. There’s a lot to be said for the talented entrepreneurs who have the courage, ambition and drive to envision, start up and operate small businesses. It’s a great day to cheer them on!
It’s also a great day for small businessowners to pause from their labors (and these folks work hard) and think for a moment about the importance of strong business ethics to the success of their companies. I’d be the last person to suggest that good business ethics aren’t important for the behemoth multinational corporations. But I believe that strong ethics are particularly important for small companies if they want to prosper. Here’s why:
Big companies work on volume - if an individual customer, client or supplier loses confidence and stops doing business with them, they can usually weather the loss (if they even notice it). Small businesses, on the other hand, depend on the continued good will of their individual customers and rely on positive word of mouth to stay afloat. If a small business develops an unsavory reputation, its days are usually numbered.
So, if you operate a small business, take a moment to ask yourself a few questions. Are your products and services of good quality? Can you and your employees be trusted to deal honestly with your customers? Do you willingly comply with laws and good business practices, or do you look for opportunities to cut corners? Can your suppliers count on you to honor your contracts and pay your bills on time? Do your employees see you “walk your ethics talk” in the way you relate to them?
The more people trust you, the happier they’ll be to do business with you. Maintain high ethical standards, and your business may not be small for long. Happy Small Business Day!
Topics: Business Ethics, Corporate Governance, customer relations, ethics |
June 1st, 2009 at 11:00 am
[...] presents Small business owners - how big is your commitment to ethics? posted at The Business Ethics Blog, saying, “Small businesses rely on reputation to grow, so [...]