Tomorrow’s Company, the independent non-profit think tank which inspires and enables businesses to be a force for good in society, has produced the following nine steps, and an accompanying report, for businesses to take to restore trust and grow the economy.
Mark Goyder, CEO & Founder of Tomorrow’s Company, says:
"Whether you were for leave or remain, the result of the referendum is a wake-up call for business and political elites. Business lost its voice in the debate because people sensed that the system is not working for them. This creates a greater need and opportunity for business to be a force for good in society.
"In the months following the referendum we have been working with our community to look at the opportunities for business to lead post Brexit and would like to thank all our members who have contributed."
Tomorrow's Company suggests the following nine actions to take.
- Reduce dividends and buybacks, not investment, wages or employment
- Make a public commitment – ideally at industry and regional level – to increase investment in the UK economy and in the skills of its people
- Make a bold and public commitment on executive pay
- Increase support for community initiatives
- Shorten supplier payment terms
- Build more overseas connections
- Don’t wait for politicians to act, form industry collaborations to tackle joint problems
- Articulate a clear purpose that is embedded throughout the culture of the organisation
- Reform governance structures to provide a voice for stakeholders
A report offering more detail can be read here (PDF).