Companies can succeed without abandoning their principles, according to research by the University of York and the Good Business Charter (GBC).

The study examines how businesses accredited by the GBC combine ethical values with profitability. It highlights how the Charter helps companies embed responsible practices into their operations while staying competitive.

Becoming responsible

The report outlines the Charter’s impact and suggests ways to enhance its effectiveness, such as strengthening verification processes, raising brand awareness, and adapting its framework to meet evolving business needs.

The findings emphasize that responsible businesses gain a competitive edge. “Companies that follow the Good Business Charter are attractive employers, retaining and recruiting top talent. They also build stronger supply chain partnerships, engage effectively with local communities, and appeal to consumers and investors who value ethical practices,” the researchers explain.

Founded by entrepreneur Julian Richer, the GBC provides a 10-point roadmap for businesses of all sizes. Its principles include paying a real living wage, promoting diversity, and protecting the environment, offering a clear guide to sustainable and ethical operations.

The report underscores the GBC’s potential to redefine business priorities. It argues that focusing on purpose alongside profit creates stronger, more sustainable companies.

“Our research shows that businesses can thrive while doing the right thing,” the authors conclude. “The GBC’s work is creating positive change across industries—work that benefits businesses, communities, and society as a whole.”