Australia Post and the Banksia Foundation have released a white paper that acts as a practical roadmap for small business owners and looks at the key issues that SMEs face when it comes to sustainability ambitions in a post-COVID world.
The study shows that almost half of SMEs in Australia, making up 98 per cent of businesses and employing half the country’s workforce, see sustainability as a key driver for their future growth and success.
The Small business sustainability in a COVID-19 world report suggests that sustainability is critical for the long-term survival, security and competitive advantage of small businesses.
“SMEs are the engine room of the Australian economy, employing close to half of Australia’s workforce and contributing more than $4 billion to the economy,” said Graz van Egmond, Banksia Foundation CEO.
“And while an increasing number – now over 40 per cent – of small business owners surveyed consider sustainability to be very important to their future success, resources are limited to help them be more sustainable.
“This white paper aims to help fill this gap and stimulate thought and action in small businesses across Australia.”
The report focuses on three key themes – operating responsibly, building resilience and regeneration in a world post-COVID, and also provides a 10-step roadmap to help business owners prioritise sustainability and achieve their goals.
This is done through methods such as committing to sustainable packaging, assessing their existing practices, and adopting a principles-based approach to doing business.
“Sustainability for businesses now extends beyond reputation and trust, and is critical to long-term survival, security, and competitive advantage,” said Gary Starr, Australia Post executive general manager, business, government and international.
“Research consistently finds that consumers are more likely to purchase from brands that are sustainable, and many are willing to pay more for products and services that protect the environment or don’t infringe on human rights, and this trend has only been accelerated by the pandemic.”
In addition, van Egmond claims that the white paper can help small businesses create new business value by doing their part to advance the UN SDGs.
“We have a real opportunity to build a more sustainable and inclusive economy than the one we left behind prior to COVID-19,” explained van Egmond.
“Now, we have a roadmap for small businesses to take this journey and seize new opportunities.”
The latest report is part of a series of white papers by Australia Post to advance the UN SDGs.
The full report and more information about Australian Post’s own approach to sustainability is available here.
