Social responsibility, profit maximisation and the small firm owner‐manager

In this paper, a new analysis is presented of the social and ethical orientation of small firm owner‐managers. Using exploratory qualitative empirical evidence, it is proposed that there are four “frames” of perceiving the social perspective of the small business. These are profit‐maximisation priority, subsistence priority, enlightened self‐interest and social priority. If policy makers wish to influence the ethics of small firms, they need to be aware of this diversity of viewpoints and move beyond the notion of the profit‐maximising, rational economic entrepreneur as the standard image of the small business owner‐manager.