New research shows
How their personal data is handled worries 44 per cent of Brits, according to a survery by the ATT (Association of Accounting Technicians).
This comes after a few famous data breaches including the Ashley Madison website debacle and the hacking of Yahoo customer accounts.
The study also found that 42 per cent customers believe businesses shouldn’t engage in any form of aggressive tax avoidance.
Rob Alder, AAT Head of Business Development says: “All businesses are reliant on their good reputation in order to survive and thrive, and this research shows the things businesses need to do to strengthen their reputation.
“The public is aggrieved by aggressive tax avoidance, a topic which people have strong views on. We are increasingly seeing companies actively promoting their commitment to fair tax as a marketing tool because they know that it serves their economic interests in the long run, with customers being loyal to businesses they perceive to act fairly and in the public interest.”
“Having a strong ethical code and not engaging in aggressive tax avoidance can result in increased profits for businesses, as well as a reduction in the tax gap because consumers are displaying an appetite for engaging with companies who are good corporate citizens. Accountants have a key role in showing businesses how they will benefit from this.”
The 10 most important factors for customers when choosing which businesses to engage with?
Business is careful with sensitive client data 44 per cent
Business does not engage in aggressive tax avoidance 42 per cent
Business has strict ethical code about their supply chain 39 per cent
Business displays maximum transparency with regards to company accounts 35 per cent
Business is environmentally conscious 31 per cent
Business invests in employee training 29 per cent
Business declares conflicts of interest 21 per cent
Business vocally supports social causes 18 per cent
Business is family friendly 16 per cent
Business regularly donates to charities 16 per cent