60% of Hong Kong SMEs say corporate social responsibility (CSR) is good for business, but only half have CSR practices in place, according to a new survey from HSBC Living Business, the bank’s five-year-old CSR programme for SMEs.
Among those small and medium-sized enterprises with CSR practices, most focus on environmental protection and employee management. The majority of SMEs focus on waste minimisation (97%), energy saving (94%), staff communication and knowledge-sharing (87%), and promotion of environmental awareness among staff (86%).
The survey also found that nearly one in three SMEs do not understand what CSR is and one in five do not know how to start implementing CSR. The University of Hong Kong Public Opinion Programme interviewed more than 500 Hong Kong SMEs in November and December 2008.
“Clearly there is a role for HSBC Living Business to continue to encourage small businesses to adopt sustainable business practices,” says Margaret Leung, HSBC general manager global co-head of commercial banking. “While SMEs may focus on cost control in this financial crisis, socially and environmentally responsible business practices can also help them by increasing productivity, reducing costs, raising community profile and enhancing staff morale.”
The theme of HSBC Living Business 2009 is “Turning Risks into Business Opportunities”. Through its programme of free seminars, its resource-rich website and its awards scheme, Living Business can help SMEs drive business, such as by greening production to meet international customer demand.
The HSBC Living Business Awards 2009 will offer HK$300,000 in cash prizes to outstanding SMEs in the areas of environmental protection, community development, employee management and overall management quality. Entries will be accepted until 29 May 2009 and are open to all SMEs in Hong Kong.
Since its launch in Hong Kong in 2004, the HSBC Living Business programme has awarded HK$1.2 million in prize money through its CSR awards to exemplary SMEs and provided up-to-date information and professional advice to 3,000 business people through its free seminar series with experts on CSR issues.
HSBC Living Business is supported by the Business Environment Council and the Hong Kong Council of Social Service.
D.C.