Sustainable Business Model, plants growing from coins

To understand the benefits of an Eco-friendly business we must first understand what that term “going green” really means.

  • First, in construction, going green involves using materials and development that are sustainable and environmentally righteous throughout the life cycle of the building.
  • In management, when a company is making a continuous substantial effort to reduce its negative impact, that is going green.

It can be perceived as taking measures to reduce service costs, implementing a recycling program, making other operational programs more sustainable, and selling green products and services.

According to the data assembled by the World Resource Institute, Canada is the 9th highest greenhouse gas producing country in the world. This makes this country a big contributor to global warming. Good news is, the federal government introduced a framework of laws and taxes to promote and incentivize Eco-friendly practices in the world of business.

In 2018, being Eco-friendly is not a thing that can be ignored by every business; consumers demand it, governments are applying it and the benefits now exceed the costs.

There are a list of benefits that come when you decide to take a “go green” approach with your business. Here are some of the top advantages:

 

1. Your business will save money while being sustainable

Sustainable Business Model, Save money

Being eco-friendly can make HUGE DIFFERENCE to your energy allocation. You may not realize this, but your business could actually save a large amount of money if you switch to a “go green” business model.

When it really comes down to it, most business owners care about their core, you want to ensure your profit margins won’t be at risk, right? Switching to a sustainable operation means that you’ll save more money than you would by operating your business through less Eco-friendly methods.

When the “go green” revolution first started, converting your business to Eco-friendly was considered to be quite an expensive move. Fortunately now thanks to the growth of science and technology, organizations can afford to change their framework and practices to be more sustainable across the board.

Even small changes like coming up with a company policy to turn off and unplug any unused electrical equipment in your office, can end up in noticeable cuts to your monthly utility bills.

Look at all areas of your company from the top to bottom and analyze areas of wasted energy.

The simple truth is that the more you embrace an Eco-friendly approach, the less you will spend on your business.

For example, reusing existing equipment in creative ways means that fewer dollars are spent purchasing new merchandise to create a device. A computer manufacturing company can re-use parts of old and obsolete model to build their newer models.

You can also look into Eco-friendly methods of shipping your product or receiving your stock orders.

I’ve seen a company use way too much shipping material to send a tiny object, in cases like that, make sure that you do not use an unnecessary amount of shipping material. In the long run you will see a big difference in your material costs.

 

2. Building Eco-friendly will reduce your energy needs

Sustainable Business Model, reduce energy needs

Designers of green buildings try as much as possible to cut down on the use of energy from non-renewable source such as coal.

From this angle,

  • They build in solar panels to make use of the energy from the sun.
  • They design windows in a way that allows as much natural light as possible, cutting down on use of artificial light.

This can have some added benefits, your employees will likely really appreciate the sunlight coming in instead of the headache inducing artificial light.

Other methods green designers use to save resources is having bathrooms utilize less water when flushing biological waste. There are system that re-use gray water efficiently to reduce water usage substantially. Converting to this specific technology ensures that your monthly water usage is reduced and more money stays in your pocket in the long run.

When you think about it, energy efficiency is important not only for the user but also for the entire world. While being a large contributor of pollution to the environment, non-renewable energy sources also have a limit, one day we will run out.

 

3. You will be legally compliant

Sustainable Business Model, Legal Compliance

Most states and countries have laws that promote environmental conformity in various ways and forms, to a varying degree.

Every year, more laws are passed locally, state-wise, and federally to match what we understand about how positive going green is for Earth’s ecology.

Going green means getting ahead of the arc— if positive green laws aren’t on the books, they soon will be and it gives a company a boost to begin as soon as possible.

The Environmental Protection Agency launched its 2020 Action Agenda. Check it out, its truly a mind-bogglingly broad plan to reduce carbon emissions, it promotes sustainability and has actionable guidelines, as well as encouragement for being ahead of the green arc.

 

4. You can live your values

Sustainable business Model, Core Values

Many people who run Eco-friendly businesses do so because they are ardent about the environment. They want to be able to live their values in every attitude of their life, including in their work.

You don’t want to be the person stuck in a job that goes against their values.

 

 

5. You will establish company status

Sustainable Business Model, Company Status

As more and more internationally known companies go green, the idea of going green becomes that much more alluring.

In fact, it’s becoming a status symbol to be an environmentally friendly business.

 

  • The computer company Dell launched a convert program that enables customers to return notably difficult-to-recycle electronics for free.
  • Auto-builder Honda is now known as one of the greenest in the auto industry by optimizing fuel efficiency, among other measures.
  • Eco-friendly breakthroughs gives a company a seat at the table of the big companies, in a sense, because only the most established organizations go green and will likely be interested in your new method.

When it comes down to it, the benefits of having an Eco-friendly environment for a business far outweigh any disadvantages.

The time and investments it takes to establish new environmentally friendly policies pay back in dividends over the years, not only in money but also in feeling good that the organization is good to the planet.

 

6. An Eco-Friendly Environment attracts new employees

Sustainable Business Model, Magnet Attracting Good Employee

You may not realize this, but more and more talented people are more careful these days when it comes to applying for jobs.

These people won’t get any job just because they know it pays well; they will also actually care about the reputation of the company that wants them.

This means that no amount of money in the world can get them to work for a particular organization if they know that for a fact, the business practices of that specific brand do not align with their ethical codes, standards, or beliefs.

Moreover, such coveted talents are more likely to sign contracts with companies who are Eco-friendly because they are aware that such places are making an effort to receive a positive reaction from consumers.

So if you’re in the market to hire some of the best and skilled people as part of your team, then perhaps going sustainable with your entire business operations would be a good way to make yourself as the ideal choice for such insightful talents.

 

7. An Eco-Friendly environment attracts new clients

Sustainable Business Model, Attract New Clients Icon

Promoting your Eco-friendly business methods can set your business apart from your competition and attract new customers who want to buy products and services from an environmentally friendly business.

Focusing more on your environmental impact can help to attract and retain loyal customers.

 

 

8. Being Eco-friendly is good for marketing

Sustainable Business Model, Marketing Eco Friendly Icon

You know what really attracts people to a particular organization outside of their products and services?

It’s the knowledge that a business has a strong humane standard when it comes to their business methods, and nothing can be more humane than committing to a sustainable direction that won’t create a negative impact on the environment.

With more and more consumers being Eco-conscious with their lifestyle direction, they are now more attentive when it comes to agreement loyalties to businesses that reflect their ideas.

However, you must never market yourself as Eco-friendly just for the sake of good attention and marketing. People will really know if you’re just faking it to increase sales numbers, or whether you’re truly absolute with your actions.

There’s nothing worse for any company than being exposed for faking details, so make sure that when you declare to the public that your business is making the leap to be more Eco-conscious, you must walk the talk so that your customers and other people will believe you without question.

 

9. Being Eco-Friendly improves your operations

Sustainable Business Model, Eco Friendly Operations Icon

If you’re a person who cares about the way your business operates on a daily basis, then you’ll be pleased to hear that an Eco-friendly approach is something that will really benefit your organization in the long run.

Eco-friendly actions are strongly encouraged nowadays because it simply makes sense from a business point of view.

It creates higher levels of ability and thereby allowing staff to do their jobs and produce excellent results.

Compare this to using non Eco-friendly practices where your workplace is just an anarchic scene, continually using up so many assets that you’ll not only be ending up wasting money, but you’ll also be running an unhappy working environment filled with dissatisfied employees.

You absolutely don’t want this kind of scenario to happen in your business, so you have to make an attentive decision on steering your organization in the right direction. And if you follow that sustainable path, you’re well on your way to making the world a much better place to live in.

 

10. Access to tax benefits

Sustainable Business Model, Tax Benefit Icon

Business owners can access many tax rebates for being environmentally compliant.

This is one of the key advantages of sustainability in business firms. Deciding for green energy sources and accepting Eco-friendly practices to your operations makes you likely for several tax incentives.

As per a study titled, Going Green in Canada, there can be significant tax advantages for a business to deduct the costs related to clean energy generation under the accelerated Capital Cost Allowance (CCA) as per the Income Tax Act.

Understanding the legion of complex laws in the area of environmental consent can be tricky for most business owners, but a worthwhile time investment.

 

Conclusion

Running an Eco-friendly company is good for business, good for the customers and most importantly, good for the earth.

If you’re now interested in Eco-friendly work practices, I am happy to have perhaps changed your mind! Even if you don’t want to initially go full 100 percent Eco-friendly, making an effort where you can will be very gratifying.

Sustainable Business Model, Team holding a seedling

If you enjoyed this article, you might enjoy these too:

– All The Facts About Bamboo That You Need To Know
– Eco Friendly Packaging: The Ultimate Guide

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