According to a new survey, sixty percent of Hong Kong SMEs say corporate social responsibility (CSR) is good for business, but only half have practices in place. The HSBC Living Business survey also found that SMEs with CSR practices, most focus on environmental protection and employee management.

• waste minimisation (97%)
• energy saving (94%)
• staff communication
• knowledge-sharing (87%)
• promotion of environmental awareness among staff (86%).

The survey also revealed that nearly one in three SMEs do not understand what CSR is, and one in five do not know how to start implementing CSR.

Margaret Leung, HSBC General Manager Global Co-Head of Commercial Banking, said: “Clearly there is a role for HSBC Living Business to continue to encourage small businesses to adopt sustainable business practices. While SMEs may focus on cost control in this financial crisis, socially and environmentally responsible business practices can also help them by increasing productivity, reducing costs, raising community profile and enhancing staff morale.”

The theme of HSBC Living Business 2009 is “Turning Risks into Business Opportunities”. Through its programme of free seminars, its resource-rich website and its awards scheme, Living Business can help SMEs drive business, such as by greening production to meet international customer demand.

Since its launch in Hong Kong in 2004, the HSBC Living Business programme has awarded HK$1.2 million in prize money through its CSR awards to exemplary SMEs and provided up-to-date information and professional advice to 3,000 business people through its free seminar series with experts on CSR issues.

HSBC Living Business is supported by the Business Environment Council and the Hong Kong Council of Social Service.