June 21, 2024

Power Equation

Unleashing the Dynamics of News and Impact

Why “Going Green” May be Good for Small Businesses

4 min read

It’s no surprise that American citizenry has turned its collective consciousness to the negative effect of our wasteful and often capricious behavior on the environment. The growing impact of climate change is showing in the increased intensity and frequency of extreme weather systems. Scientists warn and continue to warn that the way in which people interact with their environmental plays a role, including land-use changes and dependence on fossil fuel. Despite the fact that Donald Trump remains the sole head of a major economic state that denies the reality of climate change, more than 70 percent of Americans have accepted the reality of climate change and embrace the notion that other nations will need to lead the way and use diplomatic and economic tools at their disposal to compel the US to act accordingly.

What does this push toward “going green” mean for your small business?

Because a majority of Americans indicate that they are concerned about the environment, businesses have an opportunity to make changes that will not only minimize their carbon footprint and positively impact the environment, but also use this “going green” concept as a marketing tool for their socially good works. American consumers are looking to do what they can including increasing recycling efforts, purchasing eco-friendly goods, attending events designed to clean up the environment, and opting for environmentally-friendly services.

Consumers, especially Millennial shoppers, are increasingly environmentally conscious. From sustainable living to social outreach, Millennials are doing their part to improve climate quality. Overall,  30 percent of consumers prefer eco-friendly options, with approximately 50 percent of consumers opposing GMO foods. Another 5 percent state that their next car will be an electric or hybrid option. As consumers become more committed to “going green,” businesses have an opportunity to explore their options for putting a new plan into action.

Can eco-innovations be good for your business?

The answer is yes. A business’s move to becoming energy-conscious doesn’t have to be expensive, and it doesn’t mean that you will be limiting your product availability. It also doesn’t mean an upheaval that dramatically changes all of your processes or requires you to invest in expensive changes to your business. There are many things that an energy conscious business owner can do to show his commitment to “going green.” From simple, easy solutions that require limited time or finances to more substantial changes, business sustainability will likely be linked to its commitment to eco-friendly solutions can benefit both the planet and your profit. Getting the word out can be as simple as knowing about the best hashtags of 2018 like #handmade and #healthy and encouraging employees to share the good word on their own social media sites.

If yours is a small business, look at the simple ways you can embracing eco-friendly solution today while making a plan for future changes and renovations. Remember that the benefits are many. As an eco-innovator, you can tap into new and emerging markets that are being developed and stay ahead of environmental regulations. Going green can positively impact your marketing strategy where consumer demand and public opinions are clear, and you won’t need to buy real Instagram followers to draw in a targeted audience. Keep in mind that investors are attracted to businesses that focus on sustainability, and promoting your business’ innovations will be easier if you’ve conducted in-house auditing of your bottom line will improve. You will eliminate waste and improve productivity, leading to lowered costs and increased profitability.

What are some “going green” ideas for small businesses?

While this list is hardly exhaustive, there are some things that small businesses can do to increase their green practices:

  • Be paper savvy and turn to digital documents in lieu of paper ones
  • Complete an energy audit and green consulting in your brick and mortar storefront
  • Begin composting processes in your lunchroom or lounges
  • Use eco-friendly products to clean your offices or machines
  • Regularly clean and service air ducts
  • Look for grants that will help your business expand its eco-innovative practices
  • Choose an eco-friendly food provider
  • Consider alternative energy sources in a long-term plan
  • Develop an eco-friendly blog for your company’s website or social media site.
  • Use socially-responsible advertising strategies that minimize waste and use of paper products
  • Sponsor local environmental events and encourage participation from your employees
  • Do “green remodeling” of office spaces, lunchrooms, and employee lounges
  • Consult a green planner or become a green venture capitalist
  • Develop green spaces on your business’s campus

What are some other ideas you have for “going green” in both big and small ways? Feel free to share here.