In her blog, Stephanie Anderson, Project Manager at Scottish Enterprise, shows us how Scotland is on track to a wellbeing economy and how your organisation can be part of this purpose-led business movement.
'Impact-focused, sustainable businesses is of great importance to the future' is one of the most exciting headlines I've recently heard. The buzz around the purpose-led business movement is galvanising and provides a real energy boost and excitement for the future.
In Scotland, Impact Summit has been pivotal in moving the conversation forward about what it means to be an impactful organisation, showcasing examples of best practice and how individuals can contribute. Impact Summit moving online has been a beacon of CAN DO attitude in action, showing how a rapid, creative and flexible response can lead to the creation of something exciting with even bigger reach than ever before.
It's really thrilling to see these conversations set off sparks of action within individuals and businesses, leading to a broader spread of movement that ultimately shifts culture. Because changing culture is exactly what is needed if we want this exciting future to become a reality.
As each of us moves along our impact journeys, so too does that impact ripple out across Scotland. Being on this mission is something that our government, public agencies, private sector businesses and us as individuals all have in common. And it is a journey, not an overnight switch. Leadership from the top is just as important to the groundswell of action at the grassroots.
In recent years, Scotland has made a significant commitment to becoming sustainable, taking responsibility and ensuring we are a fair and inclusive society. We are one of the first three nations – along with Iceland and New Zealand - to move towards a wellbeing economy. We should be rightly proud of that.
Our government no longer talks about measures such as GDP as indicators of success in isolation – but about fairness, happiness, health and wellbeing. As Robert Kennedy said over 50 years ago: "The Gross National Product measures everything except that which makes life worthwhile." In June 2019, Scotland's First Minister Nicola Sturgeon addressed TEDx Glasgow about how our economy will only truly be successful if it enhances peoples' wellbeing - and that it isn't a nice to do but the core of our motivation.
McAteer Photography / Scottish Enterprise
And it's not just talk. Scotland has followed up on this commitment to lead by example with an accessible and easily actionable National Performance Framework.
In Scotland, action to achieve these targets is being led from the top, supported by the public sector and by private and third sector organisations, businesses and individuals. Events taking place in Scotland's ecosystem, such as Impact Summit, have a crucial role to play in ensuring the shift from words to action. Initiatives like Scotland CAN B and tools such as the Business Impact Assessment (BIA) also offer learning and practical support around how your business can become more responsible, reduce negative impact, increase opportunities to affect positive change and harness your business for good.
Scottish Enterprise (SE) has committed to lead by example with the publication of its new framework by making changes to focus on creating positive impacts and inclusive growth. It has been refreshing to see that the conversation is now firmly around not just growth for growth's sake or to benefit those individuals, businesses or regions who are already wealthy and successful, but genuinely inclusive growth and measuring what matters.
SE and our sister agencies Highlands and Islands Enterprise and South of Scotland Economic Economic Partnership are focusing on supporting opportunities for inclusive growth, leading to a happier, healthier, fairer, economically successful yet sustainable economy with opportunities for all that lifts everyone up.
McAteer Photography / Scottish Enterprise
How can we help businesses move along their impact journey?
There is a range of specific support the economic development agencies can help you with to become more impactful.
- Employees: developing yourself and your team, embedding fair Work practices and creating an inclusive organisational culture
- Environment and sustainability: environmental management systems, resource efficiency and renewables, emissions calculations and reporting and product eco-design and circular business models
- Impact-focussed business models: changing governanceand customers, structures or processes in your business
- Workplace innovation and community: recruitment strategies that increase engagement with your local community, identifying opportunities to support or give back, developing wellbeing initiatives, creating more inclusive practices such as creating an equal gender pay action plan
Outside of the economic development agencies, there are many other resources available for further reading and support listed below, including some great case studies on the Scotland CAN B website.
We are all on this journey together: whether you are taking your first steps or are further down the line, the support network in Scotland is here to help as we all move along this journey together.
- SE Support - www.scottish-enterprise.com/
- HIE Support - www.hie.co.uk/support/
- Cooperative Development Scotland - cdsblog.co.uk/
- Podcasts - www.cdsblog.co.uk/
- Scotland CAN B – www.canb.scot
- B Corp - bcorporation.uk/
- Impact Toolkit – www.impacttoolkit.thegiin.org/
- BIA Impact Assessment - app.bimpactassessment.net/
- Social Investment Scotland (SIS) Support - www.socialinvestmentscotland.com/
- The Sustainable Development Goals - sustainabledevelopment.un.org/
McAteer Photography / Scottish Enterprise
Do you have any questions about how you or your business could contribute to the wellbeing economy? Check our Scottish Enterprise's exhibitor table in the virtual networking space at Impact Summit Online on Wednesday, 20th May!