Why Pride matters – a business perspective

As a business which strives to provide a fully equitable, diverse and inclusive working culture where everyone can be themselves., it is our privilege to be a principal commercial partner of Portsmouth Pride. 

In today’s increasingly diverse and socially conscious marketplace, supporting LGBTQ+ rights and events like Pride is more than a moral imperative – it’s a smart business strategy with wide-ranging benefits. From economic impact and community engagement to enhanced brand visibility and talent attraction, aligning your business with Pride can drive significant value.

So, let’s explore why Pride matters from a business perspective and how it can positively impact both your company and community.

Economic impact

As is the case here in Portsmouth, Pride significantly boosts the economic vitality of a city. Pride events draw large crowds, increasing footfall to local businesses. Visitors dine at restaurants, spend in shops and stay at hotels, injecting money into the economy. This influx creates a ripple effect, benefiting multiple sectors and contributing to overall economic growth. All good!

Community engagement 

Actively supporting Pride events demonstrates a business’s allegiance and commitment to the LGBTQ+ community. This fosters a sense of goodwill among customers and employees alike. People value socially responsible businesses, and showing support for LGBTQ+ rights positions your company as a community champion, building stronger relationships and trust with your audience.

Brand visibility

Pride attracts a diverse crowd, providing an excellent opportunity for brand visibility. Participating in or sponsoring Pride events enhances your business’s recognition and reputation among the LGBTQ+ community and their allies. Inclusive companies are more likely to be chosen by consumers who prioritise equality and diversity. By aligning your brand with Pride, you signal that your business is welcoming and supportive, which can translate into increased customer attraction and loyalty. 

Networking and relationships

Pride events offer invaluable opportunities for businesses to network with like-minded organisations. These interactions can lead to mutually beneficial partnerships and open doors to new business opportunities. Engaging with other businesses through Pride helps create a supportive network that can drive growth and innovation within your industry.

Talent attraction and retention

Companies that exemplify Equality, Diversity, and Inclusion (EDI) values, including LGBTQ+ rights, are more attractive to job seekers. This is particularly true for younger generations who prioritise working for inclusive employers. By supporting Pride, you not only attract top talent but also foster a work environment where all employees feel valued and respected, leading to higher retention rates and a more motivated workforce.

EDI values in the workplace

Being vocal and visible about supporting the values of Equity, Diversity and Inclusion lets you use your standing and influence for good. Leading by example in EDI showcases your company as a forward-thinking and ethical business.

Creativity and Innovation: Diverse workforces are more creative and innovative, as they bring together people with different backgrounds, experiences, and perspectives. This diversity of thought can lead to unique solutions and better business outcomes.

Collaboration and Performance: Inclusive workplaces encourage collaboration and allow individuals to perform at their best. When employees feel valued and respected for who they are, they are more likely to be engaged and motivated in their jobs.

Liquid Friday and Pride

At Liquid Friday, we’ve embraced the spirit of Pride wholeheartedly. As a principal commercial partner of Portsmouth Pride for the second consecutive year, we’ve gone beyond just funding the event on the day (although this is essential, in order to Keep Pride Free) We’ve provided strategic advice, offered our office space, and our marketing team supported Portsmouth’s successful bid to host UK Pride in 2025.

We believe that supporting EDI and LGBTQ+ rights begins at our own doorstep. Our efforts include implementing inclusive hiring practices, providing ongoing diversity and inclusion training, and being thought leaders for Pride values within our industry. The impact has been fantastic! Every team within our business is engaged with it, allowing us to position ourselves as a workplace where everyone can be themselves. We’re proud to support a cause we deeply care about, and we’ve built meaningful relationships with the LGBTQ+ community in the process.

Get involved with Pride!

Partnering with Pride in your city is a rewarding experience that you’ll never look back on. It is more than just a single event; it’s a year-round commitment to the rights and freedoms of the LGBTQ+ community across the UK.

Supporting the Pride movement not only enriches your business but also strengthens the entire community. Join us in celebrating diversity and inclusion, and see the positive impact it can have on your business and beyond.

Local to Portsmouth? Visit portsmouthpride.org.uk to learn more about how you can get involved and make a difference.