We often get asked by people, who are thinking about setting up a business, when they should start thinking about social, environment and economic impact reporting.
We always say that it is never too early to plan for impact reporting. Many start up businesses assume that there will have no impact to report. We remind them their business will have some impact on people and places, no matter where they are and what they do.
For example, you may be thinking of employing local people. Your employees may spend some of their earnings locally. Already your business could be having an impact on your local economy. Then there are the environmental impacts of recycling and other green approaches, in your business. Maybe you have a plan to reduce the use of plastic and paper. Now the impacts are adding up! You may be happy to give time to a local group, do other regular or one-off volunteering, or be encouraging your employees to do some volunteering. Giving time, in this way, even an hour, will make an impact on some local people and places.
It may also matter to your customers that you are having a positive impact on your local community. It is well documented that we are increasingly making ethical choices about how and where to spend our money. Being able to reach out to those people who want to understand your ethical business choices can be done by sharing your business values and impacts.
So yes, we think it is important to start to introduce strategies for impact reporting, in your business planning, as soon as you can.
Why not get in touch to find out more.