My understanding is that you’re asking which of these reasons is a reason ethics are important in business. Ethical companies are more likely to achieve government funding and local funds. However, there are a few reasons that ethics are important that aren’t mentioned here.
One of the reasons is that without ethics, really bad practices will run rampant. Take industry in China, for example; most of what is manufactured in China comes from - for lack of a better term - enslavement camps. People are sent to these camps for small things, and end up working their butts off for no pay for ten, fifteen, sometimes even twenty years.