How your business can do good AND make money

Investing isn’t just about making money anymore; it’s about making a difference, especially for small business owners who know the importance of community and impact. Annette Densham sat down with Goro Gupta to chat about ethical investments.

Socially responsible investing (SRI) has gained traction as people look for ways to do business with others who want to change the world. There are many reasons for this move.  People’s care factor is high. We’re more interested than ever in how and where our products are made. There’s a growing movement of conscious purchasing as we Google the businesses we want to buy from to see how deep their ethical stance is. Investors are catching on because these companies tend to attract loyal customers. That’s good for business. Companies that focus on doing good don’t just feel good; they perform better financially.

How do you blend the two as a business, especially a small business? Goro Gupta merged his desire to build a profitable business with his love for the community. Through Ethical Property Investments, his motto is #dogoodmakemoney.

“This is my guiding principle that drives every decision. I want our projects to benefit society AND deliver robust financial returns to our investors. By building houses that go beyond the standard requirements for Specialist Disability Accommodation (SDA), we’re building homes where people can live independently and with dignity,” Goro said.

“As a small business, I can choose where I invest. It’s putting your money into companies and projects that aren’t just profitable but also drive positive change.”

Ethical investing

For small businesses who want to invest ethically or weave ethical investing into their business, Goro suggests working out what matters most to you. “Is it environmental sustainability, human rights, disability housing, or gender equality? Your investment choices should reflect your personal values and the issues you’re passionate about. Then align them with what you care about in your own business,” he said.

“Knowing your values and what you stand for is the first step towards responsible investing. When it comes to suppliers, partners, or investment opportunities, pick those that align with your values, like using a local supplier whose investment in a community project improves the lives of locals.”

How do you work out if the organisation you want to work with and invest with has the same values as you? Goro says to dig deep. “Not all companies are upfront about their practices. Ask for their annual reports, sustainability reports, and independent ESG ratings. Check them on social media; Google is your friend. There are many cowboys out there who say the right thing, but their actions pay lip service to doing good,” he said.

“As an investor, you want to invest with companies that welcome your input and feedback. Influencing corporate behaviour is a way to use your voice to advocate for the things you want to change. Companies that get #dogoodmakemoney will welcome your feedback and insights. There will be no smoke and mirrors or big overinflated promises.”

Practice what you preach

This means as a small business that wants to #dogoodmakemoney, there are a few things you need to do:

Goro said it’s not enough to put a nice message on your website. You have to practice what you preach. “Things like recycling and reducing waste, fair wages, or flexible work conditions, and community give back,” Goro said. “Things like sponsoring local events, supporting local charities, or helping with community development projects. Don’t be shy about sharing about the causes you support. Use all your platforms to amplify your impact so you can build a community around shared values.”

If you’re heading down the investment path, ask for advice. Goro said you don’t know what you don’t know. “If you’re new to investing or unsure where to start, get advice from people who specialise in socially responsible investing,” he said.

“Changing the world through investing takes time and perseverance. If you know what is important to you, what you want to be part of changing, and are clear on your values, your money can make a difference in this world.”

“Socially responsible investing is empowering. It gets you through the tough times when you know you are working with people who are not only helping their families but other people’s.”

“You can #dogoodmakemoney, whether it is building a portfolio that grows your wealth while contributing to a better world or making sure your business is leaving a positive impact.”

This post first appeared on Kochie’s Business Builders. You can read it here

Join the soloist movement. Whether you are new to Flying Solo or looking to grow your business, our membership options will help you attract more leads, grow your network and sharpen your business skills.  Sign up to our newsletter to get the latest news and advice straight to your inbox.

Now read this

//corestage-cdn.flyingsolo.com.au/startup/business-psychology/unmasking-imposter-syndrome-and-embracing-our-flawsomeness/