April 25th, 2018
Over the last few years, social conscience has turned towards the environment. As individuals begin to make their homes more green, businesses are following suit. The social conscience has already made some huge changes to how businesses operates, including removing plastic straws from circulation from all major coffee shops and restaurant chains. It’s not just huge corporations that have the power to change. Even small businesses are looking for ways to make business more green. Going green is actually a very clever business move, as this article outlines.
Incentives and Tax Breaks
Depending on where you are based, you can get some pretty fantastic tax breaks when you go green. For example, you may be eligible for a sales tax break for using renewable energy, or you can produce your own renewable energy and receive an income tax break. As well as these tax breaks, different states offer different incentives to encourage more businesses to go green. You may be surprised by how much you could maximise your profit margins by becoming more environmentally friendly.
Reduced Operating Costs
Part of the process in becoming more environmentally friendly is cutting down on wastage. When it comes to business, this can translate to reduced operating costs. For example, if you set your company focus to reducing waste, you can instruct staff to work digitally rather than on paper, send out online payslips and communications via email and remove the option to print documents, as much as possible. This simple step will set you on you way to becoming more environmentally friendly, and it will reduce your paper and ink costs. Other steps include using long-life environmentally friendly light bulbs, making sure all lights and electronics are switched off when they are not in use and switching to natural cleaning products. All of these moves will make your business more green and can be more cost-effective.
A final consideration businesses make before going environmentally friendly is how it will affect their customer base. We live in an age where information is at our fingertips and there is endless competition offering the same product and service. Because of this, the consumer is making more considered choices in who they choose to do business with. After all, consumers back a business’s practices when they use their service. As more of the population aims to live a sustainable and environmentally friendly lifestyle, they choose to support businesses that are also going green. Public image is so important when it comes to marketing a business, so if you are able to publicize your green efforts, you’re likely to attract a wider and more diverse audience.
If you want to take your business to the next level, going green really could be the way to do it. You could increase your profit margins by attracting new clients and customers, reducing your operating costs and taking advantage of tax breaks and incentives. It’s time to help your business while helping the planet.