Corporate social responsibility (CSR)

Corporate social responsibility (CSR) has many advantages. These can apply to any business, regardless of its size or sector.

Benefits of corporate social investment for businesses

The potential benefits of CSR to companies include:

• better brand recognition
• positive business reputation
• increased sales and customer loyalty
• operational costs savings
• better financial performance
• greater ability to attract talent and retain staff
• organisational growth
• easier access to capital

Responsible business reputation

Corporate social investment can help build your reputation as a responsible business. This can, in turn, give you a competitive advantage. Many companies prefer to work with suppliers that follow responsible practices, as this affects how customers view them. Some customers don't just prefer to deal with responsible companies - they insist on it.

Costs savings

By reducing resource use, waste and emissions, you can help the environment and save money too. Simple steps can lower your energy bills and reduce business costs. See how to reduce your business waste to save money.

Finding and keeping talented staff

Being a responsible and sustainable business can help you attract talented employees. Good CSR practices can also improve job satisfaction, helping you retain staff and reduce recruitment costs.

Other benefits of CSR to companies

Acting responsibly can also help you:

• access finance, as investors are more likely to back a reputable business
• gain positive media attention, for example through community activities
• reduce regulatory pressure through good relationships with local authorities 
• identify new business opportunities, such as developing new products or services

For more information, see Business in the Community's guidance on being a responsible business. You can also explore CSR activity ideas for your business.