A green company is a smart business. A green business benefits from improved competitive advantage and cost savings, among other great advantages of going green. Being eco-friendly, your company is able to act proactively to meet new regulations and legislations from suppliers and vendors regarding the environment.
With a good environment-friendly program, you don’t just get to keep your existing customers healthy, satisfied and happy, but also attract a pool of potential employees with the highest level of qualifications. Your firm meets its goals and objectives while ensuring that future generations will be able to meet their own needs.
Moreover, your firm positively impacts the environment, fostering natural resources preservation other than the business eco-advantages it gets to enjoy. Green businesses don’t rely on natural resources such as the solar system, rain water, etc. Your green business can also use recycled materials from rubber, paper or plastics. Using materials or processes that reduce emissions into the environment also renders your business green.
8 Benefits of a Green Business
- Cost Reductions through Recycling
Lower your costs significantly by reducing, avoiding, recycling and reusing materials. For instance, minor changes to the manner in which you handle paper can ensure that your employees engage in environment-friendly activities and procedures that go a long way in saving you money.
Avoid unnecessary use of materials, do double-side printing to reduce paper wastage, encourage your employees to send messages on scrap paper instead of buying message pads to promote reuse and shred excess paper for recycling purposes.
In the latter case, you can either engage in commercial recycling or ask your employees to use the shredded paper as mulch or compost in their home gardens.
- Lure New Customers through Good Practice
Differentiate your business from competitors by adopting good environment-friendly practices. Customers who are eco-friendly and conscious about using green products or services will get attracted to your green firm. It’s important to adhere to industry standards and regulations that govern green businesses.
Getting certified as a green business is also a plus. As a result, you don’t just attract new customers, but also lure new staff and retain the ones you already have.
- Enhanced Sustainability
A green business with little to no impact on the environment is highly sustainable. You stand doing business in the long term if you’re less reliant on natural resources and have methods of reducing costs that arise as a result of climate change.
- Improved Competitive Advantage and Branding
Customers are 58% more likely to buy from a green company or business according to the Natural Marketing Institute (NMI). Sustainable revolution has also been attributed to the ‘Cultural Creatives’ sub-culture, a trend that has been in the mainstream for the last four decades.
According to NMI, about 68 million Americans above 18 years make buying decisions based on social, personal and environmental factors and related values. Moreover, such consumers are willing to pay up to 20% more for products and/or services deemed environment-friendly.
According to a report by BBMG Conscious Consumer, 90% of consumers (9 in every 10 Americans) consider themselves ‘conscious consumers’ and are highly likely to buy energy-efficient products. 88% of the consumers are more likely to buy from firms that promote safety and health advantages, 87% from companies committed to practices dubbed eco-friendly and a similar percentage from firms that support fair trade and labor practices, with consistent pricing and quality.
- Improved Productivity and Lower Costs
Enjoy increased efficiency in your business operations by adopting sustainable business practices. Decreased costs and streamlined operations result from improved resource use and conservation. As a result, your business can gain from lower costs and improved productivity.
- Increased Opportunity for Investment and Better Finances
Studies on CFO Research and Goldman Sachs have proven that sustainable companies have plans geared towards minimal impact on the environment and efficient use of energy. As a result, these companies have realized increased finances and opportunities for investment, especially in the stock market.
- Efficient Use of Energy and Minimal Carbon Risk
Efficient use of energy and failure to plan and adhere to regulations on the environment were attributed by the 2008 report by Ernst and Young as among the top 10 risks businesses need to mitigate. By 2050 and 2020, federal and state regulations will require businesses to minimize their carbon emissions by 50% to 80% and 25%, respectively.
In the next decade, the cost and availability of energy are forecasted to double up.
- Recruitment and Retention of Employees
According to Adecco (a global HR firm) survey carried out in 2007 and a study by the American Management Association regarding business ethics, 52% of adults who are employed want their employers to be environment-conscious, and creation of social responsibility programs as part of corporate development is one of the top 5 internal business practices aimed at ethical business culture, respectively.
Why Choose an Electric Bus System
Electric bus systems are green transport systems that come with an array of benefits to individuals or communities, the society at large and the business or organizations behind them. They are reliable, cost-effective, create job opportunities, accelerate market penetration, are environment-friendly and efficiently use energy, among other benefits.