Many start-ups and SMEs operate within the misapprehension that green practices are reserved for big corporates – and it’s costing them.
The expression of environmental realities holds the world captivated and this has certain consequences for businesses of all sizes. Gone are the days of paying lip service to sustainable business practices. To operate a business in the 21stcentury, business owners very clearly need to give real and meaningful thought and action to going green.
IS THERE A COMMERCIAL BENEFIT TO GOING GREEN?
In a study conducted by Barclays, it has been shown that 75% of businesses (large corporates and small to medium enterprises alike) have seen commercial benefit following the inclusion of green technologies in their operations.
WHAT ARE THE ADVANTAGES FOR GREEN BUSINESSES?
Cost-effectiveness and optimised operations
- Evidence has shown that around a third of businesses have seen a drop in business costs as a result of their green investments. This is becoming more and more tangible as green technologies become more accessible to the masses, with costs being offset in the long term.
- On a basic level, waste costs your business money. Being aware of things like water and energy usage and innovating to reduce wastage not only boosts profits; it affects outlook for optimised operations.
- Adjusted behaviour can see your business qualify for tax breaks and government grants. Strategic focus can also see reduced impact of climate change levies and other regulations and compliance requirements faced by different types of energy users.
- Consumers are more eco-conscious than ever before. This means that your green policy matters to your customers, with many people unwilling to support businesses with no environmental ethos. In many cases, customers are prepared to pay a premium for green, eco-friendly, and sustainable goods and services.
- In addition to attracting the attention of new customers, an ongoing, sincere, and evolving environmental outlook stands to strengthen relationships with your existing customers.
Apart from doing good for the environment, adopting conscientious environmental measures for business can enhance your business reputation – great PR for growing businesses with an eye on the future.
On a global scale, green businesses have noted boosted employee morale. Over and above this, creating a culture of environmental awareness and sustainability in the workplace often has a trickle-down effect into the homes and communities of employees for an enhanced overall environmental effect.
A third of businesses surveyed in the Barclays study gave financial constraints as the reason behind their failure to go green, with 16% being concerned around the return on investment on green technologies. 19% of businesses stated that they invested in going green as a result of regulatory demands.
From in-depth understanding of the energy market and insights from their team of experts, Smarter Business works with businesses to strategise for sustainability. From procurement to monitoring and management, contact Smarter Business for a comprehensive business energy management strategy suited to your unique business requirements.