Ethics not on the map for 46% of transport SMEs

posted by 5 years ago in News

Nearly half of UK transport SMEs do not have an ethics policy in place, but why?

46% of those polled in a survey have admitted that they do not have an ethics policy in place “because it’s something they feel they don’t need” according to The Close Brothers Business Barometer.

What is an ethics policy?

Colleague interaction and customer and client communication are all essential to running a successful business. An ethics policy explains how people inside an organisation should interact with each other, it also defines how they should communicate with consumers and clients – this includes suppliers, and vendors (anyone that they have contact with during their working day).

The survey that fires out every quarter to UK SME business owners’ and senior management, has suggested that size should not make a difference when it comes to needing an ethics policy. However, despite this, 34% of the SMEs questioned believed that they are not big enough to worry about ethics and the guidelines – 17% believe ethics policies are only crucial to large companies.

Managing director of the transport division at Close Brothers, John Fawcett has said;

“With business growth high on the agenda for many SME owners in 2016, the importance of good ethical behaviour will play an increasing role in how their businesses are perceived, both internally and externally.”

Although a large amount of SMEs that fall into the transport sector believe they do not need an ethics policy more than a half (58%) have revealed that they have been on wrong end of the ethical ladder – 9% have said that it happens ‘a lot’ and 25% have said it happens ‘on occasions.’ 62% of UK SMEs within the transport sector have been questioned previously about their ethics within the supply chain as this happens commonly for 15% of SMEs.

John Fawcett continued to say;

“Over two-thirds of firms we talked to said that success is dependent on high standards of business ethics. With this in mind, it is clear that good trusting relationships with clients, employees, suppliers and the community are vital in business.”

Head of, Philip Brennan has commented by saying;

“It doesn’t matter how small or how big your company is, there should always be an ethics policy in place, ethics is what maintains good and clear communication, it also ensures that there are boundaries between one another. The benefits of having a strong ethical policy are felt by employers as well as employees – they exist to ensure that everyone is treated professionally and with respect.”