Heart of the City celebrated its fifteenth anniversary at the Bank of England on the 2nd of July 2015. On the same evening, Heart of the City also released research entitled Towards a Responsible Business Community: New Approaches for Small Businesses. The research explores the drivers for small business engagement in social and environmental issues. The research also investigates the impact of Heart of the City on its members versus non-members.
At the launch of the report Governor of the Bank of England Mark Carney and the Lord Mayor said: “This report confirms the essential role played by SMEs – which account for 60% of UK private sector employment - in building social capital.”
The research shows that internal drivers such as culture, values and employee engagement are more important to SME’s than external drivers such as marketing and business development.
Carolyn Housman, CEO of Heart of the City, said: “We have been working with SMEs for over 10 years, and it is evident that there is no one size fits all when it comes to social and environmental responsibility. We want to launch an important piece of research that provides a deep insight into how businesses in the capital conduct their CSR programmes and the support they need to strengthen them. Business involvement with the third sector is essential in building a more inclusive society, and I would urge organisations to make sure their voices are heard in this debate.”