Copyright © Mark Styranka

We have seen Conrad Black, Martha Stewart, Enron, Tyco, WorldCom, and countless others in the headlines as their career or business is examined to see “what went wrong?” Newspaper headlines scream about insider trading, companies cooking their books, and other scandals involving business executives at mostly major corporations. Even today, many are questioning the ethics of lenders and investors in the sub-prime market as people are losing their homes to foreclosure and investors are losing their money through direct or indirect involvement. Why was money lent to people who could not afford payments when normal market rates would come into effect? Why would lenders package these loans without identifying the inherent risk of them to the purchasers?

Scandals such as these tarnish the reputations of business in general, including the small business owner. Investors perceive higher risk, customers are more wary, and the financial industry gets reluctant to extend credit. In spite of this, many small-business owners think a written code of ethics unnecessary. There are even more home businesses that would not believe that a code of ethics is necessary for them. This assumption is simply false. There is a huge benefit to having a written code of ethics for the small business including your home business.

A code of ethics will identify to suppliers, customers, contractors, and employees what behavior is up to standard and what is not. We will come across ethics violators in the normal course of business and we must stand firm to our code of ethics and avoid dealing with these people.

A written code of ethics identifies those basics that you consider essential in operating a business of integrity and character. Communicating this on your website and other informational material will give you an advantage in the marketplace. If you live by it, you will have the added benefit of being able to sleep at night.

Mark Styranka is the owner of Exciting Destiny.com and Bargain Deals Mart.com. He writes on a variety of topics but primarily relating to money making secrets for the stay at home business. To learn more about how you can work & stay at home, Mark recommends that you visit:

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