NEWS - 9. March 2017 17:25
Small and medium-sized enterprises (SMEs) in Estonia, Latvia, and Lithuania consider sustainability to be important in entrepreneurship and still place the highest value on responsible business, revealed the Baltic Business Outlook 2017 survey, conducted by SEB
“The results of the survey reveal that enterprises understand the benefits of responsible business. Sustainable entrepreneurship improves the image in the eyes of clients and partners and is also a competitive advantage in terms of business activity,” said Ainar Leppänen, Member of the Management Board, Head of Retail Banking and Technology Area.
For the second year in a row, companies that completed the survey have attached the most importance to a company’s operations, which include responsible sales and consultation, transparent financial reporting, a strong brand and a strong image, and lower risks in the supply chain. On a scale of one to five, this is rated highest by Lithuanian SMEs (4.45 points), followed by Estonian and Latvian companies (4.3 and 4.2 points, respectively).
Contributing to their employees and to society is almost as important for the Baltic SME-s. This is reflected in loyalty, greater engagement of employees, lower staff turnover, higher productivity, and contributions to the society. This principle is also highly valued the most by Lithuanians (4.1 points), followed by Estonians and Latvians (3.9 points).
The survey revealed that a responsible attitude towards natural resources, manifested in the efficient use of resources and environmentally friendly production, is valued the least by Baltic SMEs and is rated across the region between 3.6 and 3.7 points.
In the autumn of 2016, SEB Grupp conducted a survey, with the goal being to map the expectations of small and medium-sized enterprises (SMEs) for the 2017 financial year. The new edition of the Baltic Business Outlook presents a summary of the project and profiles the views of the 4542 Baltic SMEs that completed the survey.
Read the survey here: http://www.seb.ee/sites/default/files/web/files/uudised/BBO_2017.pdf
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