Global Compact Network Singapore

Small and Medium Enterprises (SMEs)

Why CSR is important for SMEs

For many SMEs, CSR is another way to describe something they already do. Especially for many family-run SMEs in Asia, the relationships they maintain with clients, employees, business partners and the local community have been built on trust and a responsible approach to business. In this context, CSR does not aim to reinvent the wheel. It is about building on existing good practice, maximising its impact and making a link between CSR and the company’s core business activities.

Today, SMEs face business challenges such as a shortage of labour and the war for talents. In many instances, SMEs are ideally placed to pursue responsible workplace practices. Certain CSR trends are already a part of SME culture: for example, SMEs in certain sectors are more likely to have family-friendly workplace practices in a less bureaucratic setting, which may well be suitable for employees who would appreciate a more flexible work arrangement due to family commitments or personal choice.

SMEs often have longstanding contacts in servicing a local area and are well placed to understand and benefit from the community relations. Being more flexible and less formal than large companies, an SME can direct resources to CSR efforts more effectively.

The key is to identify the trends relevant to your business and have a plan aligns with your business objectives.

Need a guide?

Besides referring to the six quick tips (right), you can also refer to this CSR and sustainability guidebook specially developed for SMEs by the French Chamber of Commerce in Singapore and Singapore Compact.

If you are an SME business owner or have been tasked to develop a CSR strategy for your company, here are six quick tips to get you started on and to continue with your CSR journey:

You can also refer to this CSR and sustainability guidebook specially developed for SMEs

How to Start CSR

How start CSR

A supportive hand on your CSR journey

Find out more about the programmes that Singapore Compact run to support companies wanting to start on the CSR journey, and existing practitioners who want to deepen their knowledge.
 
Singapore Compact members enjoy preferential rates when they sign up for training courses, and invitations to free "members' only" sessions where they network with other CSR practitioners and exchange ideas on how to enhance their CSR initiatives. Find out about Singapore Compact membership here.