How Small Businesses Can Benefit From Going Green

It is apparent more than ever that businesses and individuals need to be conscientious of our energy consumption and try and make sustainable, green choices wherever possible. However, as a small business when costs, specific processes, time, and many more factors need to be taken into account, how feasible is it to go green? Here we discuss how small businesses can benefit from going green and how they can get started.

The Race to Zero

The UN has announced its “Race to Zero” campaign which is a global commitment to achieving net-zero carbon emissions by 2050. Is aims to rally leadership and support from businesses, cities, regions, and investors for a healthy, resilient, zero carbon recovery that prevents future threats, creates decent jobs and unlocks inclusive, sustainable growth.

Some of the UK FTSE 100 companies have signed up to be a part of this challenge with almost one in three of the UK’s largest businesses committing to cutting emissions through their supply chain.

If this 2050 target is to be met, it can’t just be the large companies that put sustainable measures into action. Small and medium-sized companies are also being urged to go green so that together, a huge impact can be made. However, it can be overwhelming for smaller businesses for example, to know where to start when it comes to joining the “Race to Zero” and whether it can work for them.

How can businesses go green

If you sell products, a great starting point is to consider how green your product is now and how it could potentially be more sustainable. From the product itself to packaging it, the product life cycle consists of several steps, so take each of these stages, analyse the processes and see if anything can be changed. There could be some easy wins. A good place to start is with the packaging. How recycleable is your packaging and how easy would it be to change? Is it biodegradable? Could it be made from recycled material? Could you create a recycling scheme to encourage customers to recycle?

You could us a sustainability consultant if you are unsure where to start. They can provide an in-depth view of your green practices and identify which areas can be improved. This information is particularly valuable as you can use it to provide data for stakeholders and use it as a benchmark for future improvements, to see what a difference you have made.

You can also do some competitor analysis to get a thorough understanding of how other companies similar to yourself are actively trying to be greener. It is also important that you look at your entire supply chain and not just your company in isolation.

How can small businesses benefit from going green?

Whilst businesses know how important it is to reduce our carbon emissions, it can still be a daunting task and prospect to becoming green, especially if it is not something you have considered before. However, there are many advantages to making your company eco-friendly which you may not be aware of

Going green enhances brand image

Having strong, genuine green credentials can help you stand out over your competitors and can help boost the perception of your brand in the eyes of the consumer. This may attract more customers in the long term. Surveys have shown that the majority of consumers are attracted to brands that source and make their products in ethical, green ways. With more focus across the globe focusing on becoming carbon neutral, the importance of green practices will only increase.

Can reduce costs

Often there is a perception that going green is an expensive task and is why some businesses are put off. Whilst making changes can end up involving a substantial initial investment, making these changes can make your processes more efficient, which in turn can save you money. Part of going green is ensuring you have minimal waste in terms of materials as well as lighting, heating, and water. All these reductions will add up and mean that you save in the long term.

Can improve employee morale

A study from Charlton College of Business at the University of Massachusetts found that employees are more likely to be satisfied with their jobs if they are working for a company that is perceived as green. Ensuring your business has sustainability as a focus in the day-to-day running of the company can help boost the morale of the existing employees and help retain them but also can be a great benefit when recruiting new members of the team. Make it company policy, consult and train your team and share your plan.

Better investment opportunities

Start-up companies that are focusing on being green can often take advantage of more grants and loans than a traditional business might. There are an increasing amount of schemes available as green businesses are vital for the future. There may be national or county-specific schemes perfect for your business so make sure you do your research.

It is not just major grants and loans that may be available to you, there is a range of smaller green rewards that businesses should make the most of such as the Cycle to Work scheme, grants for installing electric vehicle charging points at the workplace, or tax breaks for electric vehicles.

Prepare for the future by going green

Doing the work now to become green will save you time in the future as there will inevitably be an increase in future legislation that will focus on green initiatives, enforcing certain green changes to take place. If you concentrate on making these changes now, it should save you time and money when new regulations come into force.

Enforcing sustainable measures is not just for big international or national companies, there are a lot of ways small businesses can benefit from going green. Whilst sustainability doesn’t have to be at the heart of what your company is and the focus on your business mission, having sustainability feature in your business plans for the future and investing in going green can benefit your business, your sales, your customers, and the planet.

The great news is you don’t have to wait until you have a full, comprehensive plan in place to get started on becoming more green. There are plenty of quick wins that you can start implementing almost immediately. If would like to learn more about green initiatives and how you can incorporate these into your business effectively and in a financially viable way,  then please get in touch with a member of our team.