CSR a game-changer for small businesses – Communication Expert

Corporate communication expert Nana Kwesi Aquaye has emphasized the vital role of Corporate Social Responsibility (CSR) in brand development and access to global investment opportunities, urging startups and small businesses to make social impact a key part of their operations.

CSR has increasingly become a strategic priority for businesses worldwide, moving beyond philanthropy to become a key element of brand positioning, stakeholder engagement, and sustainability efforts. In Ghana, awareness of CSR’s role in community development and business success is growing, particularly among startups and small and medium-sized enterprises (SMEs).

However, many SMEs still view CSR as the domain of large corporations, often overlooking the long-term benefits of integrating social impact into their business models.

Speaking on Business Breakfast on Zed, Mr. Aquaye stated that giving back to the community is no longer optional but essential for any business seeking long-term growth and public goodwill.

“Let’s operate in an environment that is conducive not just for us, the profit-makers, but for the people who give us their land, their support, and the opportunity to operate,” he urged.

The communication expert noted that globally, organizations are aligning with CSR principles, and major investors, including institutions like the World Bank—consider a company’s social impact before offering support.

“If you want to sit at the table with institutions like the World Bank, they look at these things first,” he explained.

Mr. Aquaye encouraged startups to start small but impactful, citing practical examples such as producing school uniforms for underprivileged children or funding boreholes in communities.

“If you’re a fashion brand and you operate in a community where schoolchildren wear tattered uniforms, you can design and donate to even ten of them. You don’t have to be a big company to make a difference,” he said.

He added that CSR improves brand image in ways that may not be immediately measurable but are deeply appreciated by the communities served.

“When we do such projects, we go back to collect feedback, and the response shows people are very appreciative. Because of that, they choose to do business with your organization,” he noted.

Mr. Aquaye explained how such gestures influence consumer loyalty.

“I know someone who only buys that brand because of its social impact. You can’t quantify that, but it builds a positive image,” he added.

Mr. Aquaye also pointed out that CSR can have financial benefits, including tax relief from the Ghana Revenue Authority.