A Long-term view on managing environmental and social risks can achieve improved growth and cost savings, advance their brand and reputation, strengthen stakeholder relations, and boost their bottom line. Strategic integration of sustainability will assist SMEs to better anticipate and respond to long-term trends and the effect of resource use, while addressing stakeholder expectations.
Implementing sustainable business practices and demonstrating a passion for sustainability will unlock competitive advantages, as larger companies will prefer suppliers that observe best practice in harmony with their own sustainability objectives.
SMEs that embrace sustainability in business will have a better understanding of the impact of systemic risk and resource constraints on business operations. Identifying and addressing environmental and social concerns related to products and services can be a differentiator in certain markets, while opportunities for business innovation can be realised when environmental and social challenges are seen as opportunities to meet society‘s needs.