1. INTRODUCTION Small firms and their practices play a significant role in the Australian economy and society. Fran Bailey, Minister for Small Business and Tourism, recently commented that "small business is more important than ever", with small business driving innovation, exports and jobs growth (Ministry, Tourism and Resources, 2007). Small and medium-sized enterprises (SMEs) are important for future development and their economic impact should not be underestimated. To be economically sustainable, i.e. more efficient and profitable in the long run, small businesses need to operate in socially and environmentally responsible ways and aspire to maximise stakeholder value by focusing on the "triple bottom line" encompassing the three components of economic, environmental and social performance (also referred to as "Economy, Ecology & Equity" or "People, Planet & Profits" (Savitz & Weber, 2006)).