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Business

Honesty is in all of our interests

By: Malcolm Hyde business@thekmgroup.co.uk

Published: 08:00, 10 May 2014

Some of the great things our members are doing up and down the country were on show during Responsible Business Week.

The past few years have been challenging for business, with increased public and media scrutiny of issues such as tax, pay, profits and transparency.

Business wants the economy to grow and keep growing. We want there to be investment, job creation and prosperity.

The Chancellor upped national insurance payments for the self-employed to tackle the number of people using it for tax benefits without acting as entrepreneurs

We want standards of living to rise, youth unemployment to fall and resilience to return to high streets.

Small, medium and large companies are working alongside each other to provide the essential goods and services that are the foundations of our economy.

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Innovation and competition increase the choice and quality of products, and drive the invention of technologies.

One of the key messages that came out of Responsible Business Week was how businesses have a pivotal role to play in creating a sustainable future for consumers, society and the economy.

This role depends on the quality and degree of responsible leadership.

One firm described a need to develop a vision and values document spelling out staff roles and goals and how to achieve them.

Profits allow businesses to employ more people, invest in training, pay for our pensions, and help fund the schooling, healthcare and security on which we rely.

At its best, business is a force for good in our society. But business must recognise that it doesn’t always get it right.

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As in any walk of life, things go wrong and people do wrong. And mistakes and the damage they do should be acknowledged so we can start fixing them.

But the positive story of business’s contribution should not be lost in the anecdotes and soundbites when something negative emerges.

Equally, business must respond to legitimate criticism if it falls short.

To that end, in the second half of this year the CBI will be launching a platform for this debate to seek the involvement of a wide range of voices including employees, consumers and community groups.

By living up to its responsibilities and engaging directly with popular concern, business will ensure public confidence in its activities.

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