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Almost half of firms are too busy to focus on corporate social responsibility (CSR) new research has suggested.
The study, by Bibby Financial Services, found that over a third of business owners and managers believed practising good CSR would be useful in attracting new business, retaining existing customers and reducing operational costs.
However, 49 per cent of respondents admitted they were too busy to implement CSR policies within their own businesses.
Some 47 per cent said they felt under pressure due to the amount of red tape such as tax planning, business regulations and company legislation they had to cope with.
As reported by Startups.co.uk, David Robertson, chief executive of Bibby Financial Services, said: "CSR is the current hot topic of the business world and its getting rare to read a newspaper or switch on the television without coming across references to carbon footprint reduction or fair-trade goods.
"By demonstrating to employees, customers, suppliers and prospects that they are serious about CSR, business owners and managers will not only attract new business, but become examples of good practice and help prevent the introduction of even more costly and complicated legislation in the long run."
Some 38 per cent of those SME owners questioned said they did have CSR measures in place.
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