A business could be doing extremely well financially, but if there are questionable practices within it then true success has not been reached. Creating an ethically sound business means more than just overseeing the books and being honest to customers. It also includes accepting some social responsibility and being sure that obligations are met.
Being ethical with customers is important but it is just as important to maintain proper business ethics with vendors. It can be tough meeting financial obligations, especially when the business is just starting out but bills should always be paid on time.
Said, Gerald Irwin of Sutton Coldfield based Licensed Insolvency Practitioners and Business Advisers, Irwin Insolvency, “In the same way that individuals have a social responsibility within their own communities, so do businesses. It is always a good idea to find ways that your business can be a benefit to the community.
Practising good corporate business ethics is a choice but naturally, there will be times when it will be easier to make a choice that is contrary to proper ethics, but who said that running a business was easy! Doing the right thing will pay dividends that may not be evident at the time but will last for years and will help your small business find true and total success.”