Demystifying what it means to be a ‘good business’

In a world where sea levels have doubled in the last two decades in comparison to the last century, where it is estimated that all our fossil fuels will be depleted by 2060, and about half of humanity is living on less than $5.50 a day, the world needs businesses now more than ever to look at building better models that positively impact people and the planet. 

But from ESG reports to Bcorp certifications, from flexible working policies to eco-packaging, it can be overwhelming to know what to do or where to start, right?

That’s why at The Good Business Club we’ve designed the Good Business Framework to demystify what it means to be a good business and to showcase real-life examples of what organisations are doing to build better businesses. 

I believe one of the most powerful tools we have in this space right now is the experiences from those businesses who have been pioneering and innovating in this space for decades. They have tested out new models and trialed innovative approaches. The lessons they have learned can save businesses years of resources, capital, and most importantly, time when looking at doing business differently. 

So let’s start by looking at the Good Business Framework and then explore existing approaches local businesses in Sussex are already seeing the benefits of. 

The Good Business Framework

It’s worth noting that there isn’t a universal definition for, “impact-driven”, “purpose-led” or “good business”, so at the Club we’ve defined them as “businesses that have a purpose beyond making a profit. Financial sustainability is key but not at the cost of people and the planet”.

Is that an easy commitment to live up to? No way! Every decision is tough. There are extra lenses that business owners and leaders need to look through and it isn’t as black and white as “what is the cheapest option to the business?”.  

So let’s go one step deeper and look at the six areas a business owner can focus on if they are looking to have a more positive impact through their business. 

1. Employees

From recruitment to fair working policies, from business transparency to employee development, how considerate are you of the people who make up your teams and shaping work that works for everyone, not just the business?

Just helpers, an award-winning cleaning company, are passionate about fair and equal opportunities for all, and one way that this comes to life is by paying all their staff at minimum the Living Wage.

D&A is an award-winning disabled-led social enterprise which supports students, organisations and social justice projects to create inclusive cultures. They practice what they preach, with 85% of their team self-identifying as disabled or neurodivergent. They are the go to specialists if you are interested in becoming a more diverse and inclusive business.  

2. Clients and Customers

Have you considered your policies around working with good businesses, treating customers fairly, and avoiding working with unethical businesses?

Cobalt Beach streamline business processes with automation and technology, improving customer service and reducing costs, and they choose to work with vegan-owned businesses as this aligns with the founders values. 

Plus X, an innovation hub in London and Brighton, drives social impact by offering coworking and office space as well as innovation programmes to purpose-led businesses. 

3. Supply Chain

Where are you sourcing your stationary or catering for an event? Have you considered the impact of your web host or your recruitment agency? Are you finding and choosing to work with good businesses and creating an ethical supply chain?

HISBE is an ethical supermarket transforming the food industry. They are proving that supermarkets can be sustainable without negatively impacting people and the environment. As well as many other good business practices, HISBE chooses to source only from suppliers who are either local, ethical, or organic, and unlike more supermarkets, they pay their suppliers a fair price.

RubyMoon, an ethical swim and gym wear social enterprise reuses recycled fishing nets from the ocean to create long-lasting swim and gym wear for the socially conscious swimmers.

4. Products / Services

If you’re creating a product or service, is it having a positive impact in the world? This could be being certified fair trade or organic, looking at circular models or supporting people in need, making it more accessible or a more ethical alternative to other products/services etc.

MarinaTex is a startup in the R&D stage, creating an alternative to plastic that’s made from fish guts and other seafood waste. It is biodegradable and completely organic so not harmful to people, animals or the environment.

Second Shot Coffee is a coffee social enterprise that trains, employs, and supports people affected by homelessness. So when you visit their cafes, you can expect delicious coffee and food, and also know you’re contributing to the future of the people working there. 

5. Local Communities

Are you doing anything at the moment to work collaboratively with local organisations or give back to community initiatives through time, money, skills etc.

The Bevy is a pub that was closed down and then saved by the community, who now all own a part of the social enterprise. Everything that The Bevy does is in service of the local community. Whether that’s hosting playdates and activities for parents and children or ensuring no elderly member of the community spends Christmas alone, every activity brings the community together to reduce isolation and increase community cohesion. 

Search Seven are an award winning marketing agency who pledge 7% of their annual profits to charities and local community projects, and have so far raised over £50,000 in 10 years. To mark our 10th anniversary this year, they’ve set themselves the ambitious target of raising £77,000 for charity.

6. Environment

Is your business harming the environment? Have you considered reducing your carbon footprint, reducing or recycling materials, encouraging green travel, using green energy etc.

Create.net are a website hosting platform (like squarespace or Wix), who take sustainability seriously. They are powered by renewable energy and are working in partnership with Ecologi to remove the carbon footprint they have created over the last 19 years, and create a carbon neutral business. 

BHESCo are a cooperative leading the transition to clean, affordable, community owned energy. From their Solar for Schools project to tackling fuel poverty, they are making green energy accessible to their communities.

At The Good Business Club we know running a good business is tough, that’s a given. Figuring it out on your own, that’s a choice. Would you rather waste resources on trying to reinvent the wheel or collaborate with other businesses to learn from their lessons and co-create approaches that have a lasting impact?

Businesses across the UK are joining the movement to pledge to do better business, and problem solve some of the most challenging situations with like-minded business people. 

If you’re looking to create a better business, one that considers people and the planet, and you want to learn from other founders and specialists in this area, watch this space as we’ve teamed up with Sussex Business Times to bring learnings from the community to you through the new ‘Good Business’ section of this magazine. 

Expect real-life examples in each edition covering all six areas of the Good Business Framework in more detail and sharing the challenges and practical lessons to help you build a better business. 

Let’s do good business.

The world of business is changing and Sara Osterholzer is leading the charge

She believes there’s a different way to do business that positively impacts people and the planet while still being profitable and is demystifying what that looks like to support business owners create sustainable businesses, for themselves and the world. 

Sara is a good business specialist and  impact-entrepreneur, most recently the co-founder of The Good Business Club. She also mentors the next generation of leaders looking to redesign the world of business, for good. When she’s not banging the drum for purpose-led business, you can find her touring around on her motorbike or breaking the taboo around mental health. 

sara@saraosterholzer.com
www.saraosterholzer.com
www.thegoodbusinessclub.com

Twitter: @SaraSophieOst / @TheGoodBizClub

Instagram: @saraosterholzer / @thegoodbizclub

LinkedIn: Sara Osterholzer / The Good Business Club