Are South African SMEs missing out on a powerful competitive edge? Discover how community impact can influence consumer choices and drive business success in today's value-driven market.
Today, people look beyond products and services, paying closer attention to the values that guide the businesses they support.
This is a trend emerging on both a global and local front. In fact, during the Covid-19 pandemic, research found that 64% of South African consumers were influenced in their purchasing decisions by a brand's response to societal challenges, while more than half (52%) wanted to see brands actively helping communities.
With the celebration of Mandela Day and Month – a time when South Africans are encouraged to reflect on the role each of us can play in making a meaningful contribution to the communities around us – there is an increasingly compelling business case for community impact.
As small and medium enterprises (SMEs) tend to be deeply embedded within the communities they serve, they are often uniquely positioned to create a tangible and visible impact, which can be a powerful differentiator in an increasingly competitive market.
