Business is often thought of as a for-profit endeavour that only directly benefits the people who run or manage it. And for the most part, it is true. As businesses grow and evolve, they often use up more resources and can even make a negative impact on the environment and other people affected by it.
But it doesn’t always have to be this way. Thankfully, more and more people are wisening up to the immense power and influence that businesses have in shaping society and the ways we live. Meaningful change goes a long way with businesses that make the effort. When this happens, we call it good business.
What is good business?
Good business is, at its root, a business dedicated to helping people using its operations and profits. They make ethical business decisions and regularly help in bettering local communities or causes. They may encourage youth entrepreneurship and social responsibilities.
This approach is fairly new in business-- compared to more traditional business practices, CSR is more of an afterthought. It’s important to instil good business ethics in the youth of today. It’s never too early to teach sustainable business practices and how to positively influence others.
Does youth entrepreneurship matter?
Yes, it does. Here are three key reasons why good business practices in youth entrepreneurship programmes make a difference:
- Teaches empathy. Young people are more open to new experiences and will better grasp societal needs.
- Better education starts young. Young entrepreneurs have much more time to hone their craft and develop skills and processes necessary to shape their business.
- More room to grow. Youth entrepreneurship is great as it serves as the training grounds of future leaders and businessmen.
Make a difference in the world by joining Singapore International Foundation in its mission to help people around the world. Check out our site to learn more about our youth leadership programmes, outreaches, volunteer programmes, and more.
