Sustainability is becoming an increasingly important issue for many businesses. As environmental concerns take precedence, consumers are starting to change how they live – including their buying habits. However, becoming an environmentally sustainable business is more than just appealing to customers. There are several benefits to developing more sustainable practices and products, such as increasing your company’s bottom line and boosting worker morale. But can profit models place the interests of the environment and employees first? Paul Hargreaves, Founder & CEO of Cotswold Fayre & Flourish, took to the stage at Elite Business Live 2024 to speak about the importance of sustainable business practices and prioritising employee well-being over profit.
Paul argued that prioritising sustainability can lead to increased profitability while also mitigating the negative impacts of climate change. He spoke about his company’s journey from focusing primarily on financial survival to embracing a more holistic approach, putting people and the planet before profits. Paul even said that if they had recognised this shift earlier, the business might have avoided challenges later on. Now, Paul believes that by prioritising people and the environment, profits will naturally follow—a principle that has become central to their business philosophy.
Speaking about their charity efforts in Africa, Paul said: “They enjoyed working for the company, not just for the paycheck or to keep a roof over their heads, but because they believed in the business and the difference it was starting to make in the world. Looking back, I realise I might be viewing some of this with hindsight, but I should have paid more attention at the time. If I had, perhaps we could have avoided the meltdown we experienced later on. We slowly transitioned the business from a place of scarcity—where money dictated all decisions—towards operating from a mindset of abundance. This shift has now become our business mantra. Put people and the planet first, and the profits will follow.”
Treat your employees with respect. By providing opportunities for growth and prioritising employee well-being, you create a more sustainable and ethical business model. Employees are happier and more productive this way, boosting their morale and satisfaction overall. “Our employees are happy and more productive because they genuinely enjoy coming to work,” Paul told the audience. “Two of our older employees, one in their 40s and the other in their 50s, both told me they had never looked forward to going to work until joining us. It’s both heartwarming and sad—these individuals had worked for decades at various companies without ever enjoying their jobs.
“This experience reinforces my hope that we create businesses where people are excited to come to work… It’s no surprise that companies on that list are among the most successful and fastest-growing in the UK. We understand that the more we invest in our people, the more we get in return. We’re also members of the Living Wage Foundation, which sets a wage slightly higher than the government’s minimum. When the government first introduced the minimum wage, many of our retail customers complained about having to pay it, but we’ve always believed in paying people fairly.”
Cotswold Fayre & Flourish takes an inclusive approach to hiring, which Paul believes helps brings a strong sense of community and positivity to the workplace. By doing so, the entire team gains valuable experience in working with and understanding people from different walks of life. “We do things that other businesses don’t,” he added. “We employ three wonderful neurodiverse individuals. While it might take a bit longer to train them, once they learn the job, they become incredibly consistent and loyal workers. We love having them on our team. Recently, we hired someone new, and the positive impact on our local community has been tremendous. Their families are deeply appreciative, and one of the mothers even started working with us. There’s a feel-good factor that permeates the entire business.”
