Companies across the globe are learning that environmentally-friendly operations aren’t just the right thing to do, they also create major benefits. Here’s 8 ways businesses going green are reaping the benefits.
In these financially straitened times, budgets and profit margins are under pressure more than ever before. Against this backdrop, sits the ethical argument for going green that almost no-one argues with – we know it’s the right thing to do.
But is it possible to align these two goals? Can businesses going green actually increase their profitability? It is possible to follow the going green trend, and benefit your business.
Read on for our guide to 8 ways business going green are benefiting from the switch.
1. One Step Ahead of the Curve
Going green isn’t just a matter of doing the right thing ethically. In many cases, it is or soon will be a case of doing the right thing legally.
When green legislation comes in in future, many companies will have expensive changes to make that will impact negatively on their business.
One of the main reasons why businesses should go green now is that you’ll have to anyway at some point, like it or not. By staying ahead of the curve, you’re ready to meet business challenges, not legal ones, in the future.
2. Reduced Utility Bills
Renewable energy options for businesses such as solar panels may not be anything new, but they do make great financial sense for green companies.
Companies like Shine Solar offer packages that mean no hefty initial outlay to supply their solar panels. This means that you can start to enjoy the benefit of reduced energy bills without the large investment often associated with them.
Once the solar panels are repaid, you continue to enjoy the cheap energy, and are protected against future hikes in energy prices!
Another way to see a reduction in your electric bills is to implement a green policy of turning off lights, using lights with sensors that turn on only when they detect movement, and switching machinery to low power mode when not in use.
3. Attract More Business
If you’re still struggling with the question, ‘Why is going green important?’ then think about the impact on your current and potential customers.
A study recently showed that over a third of customers now choose to buy from brands that they believe are following the going green trend, or are sustainable.
If your business is going green, flaunt it. Make sure that you don’t miss any opportunity to communicate your green credentials to the world. You’ll reap the benefits in increased custom.
4. Tax Breaks and Other Incentives
The government understands why businesses should go green, and because of this, are supporting businesses through a range of tax breaks and incentives.
Policies and incentives vary from state to state, with California for example currently having 256 on the books, New York State having 113.
It’s worth doing your homework and investigating whether your business can benefit from these. Some reward you for making the transition, others for staying the course.
Some are in the form or loan programs, others are tax rebates or grants.
5. Make Your Workforce Happy
Your staff are increasingly concerned about the planet and want to work for a company that shares this ethos.
They’ll take pride in representing a company that is proactively going green. A productive workforce with strong morale is not only more efficient and works harder.
They can also serve as your best advocates. Train them to use social media to share your green credentials, to cite how much they love working for a sustainable company and it will translate into growth for your business.
Recruitment will also be considerably easier – you’ll cement your place in the job market as a very desirable employer.
6. Reduce Stationery Costs
We’ve all heard of the paperless office, but few have managed to achieve it.
However, with smartphones and tablets in most of our hands, there are now fewer and fewer excuses to cling on to paper. Let’s face it, it’s not only bad for the planet, it’s also expensive – and a potential great saving for your company.
So think about ways that you can practically reduce the amount of paper you use. Can you introduce a new paper policy? A ban on printing emails? Invest in tablets for your workforce? At least start printing double-sided!
All of this will feed through into savings in stationery and in time a more sustainable office.
7. Lead the Way
As mentioned before, sooner or later there will be no option to choose whether to go green or not.
By making the move now, and by going the whole 9 yards, you set yourself apart as a leader in your field. Others will follow, but you will always be the ones who got their first.
Taking the lead in going green can be a great way to establish yourself as the trailblazing company in your area of business.
You’ll find that government and private business alike will be keen to deal with forward-looking companies like yours.
8. Reduce Waste
With waste collection services a major cost for businesses of all sizes, reducing the amount of waste you produce can have a big impact on your bottom line.
Encouraging recycling, which can even extend to , and using reusable products, such as coffee cups, can help to make a dent in this. Also, cutting down on paper usage can help to reduce the bill for disposal, including the confidential destruction of documents.
The Verdict: 8 Ways Businesses Going Green are Benefiting
From tax breaks to reduced bills, increased employee morale to a more positive public image, there are very few disadvantages and many benefits to businesses going green.
It can be overwhelming at first, but if you do your homework and take a strategic approach, you’ll soon see the benefits of making the switch.
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