Discussion over climate change has increasingly turned people’s attention towards the environment. As society continues the green movement trend, consumers are willing to spend even more money on products that are in line with their values. People participate in sustainable practices like recycling, driving electric cars, shopping with reusable bags, and replacing old household utilities with low powered products – and companies are not far behind.
Innovative companies are following the public tide and incorporating sustainable practices into their businesses for multiple reasons. Not only are these companies appealing to consumers, but they are also visibly saving their business money.
Here is how building a sustainable business will not only save the planet but save your business money:
- Energy-Efficient Utilities: Save money and electricity by replacing the light bulbs in your office with ones that are energy-efficient. The next time you are looking to purchase new office equipment, keep an eye out for office products with the Energy Star Certification. Many computers, phones, and other equipment with this symbol can save your business energy and money in the long run.
- Recycle Toner Cartridges: Many suppliers offer discounts for recycling toner cartridges or bringing back used ones. Even bigger stores offer discounts or cash-back promotions for them. Do your research and save money.
- Reusable Bags: As cities across the U.S. are slowly banning the use of plastic bags, consumers are increasingly turning towards reusable bags. Consider offering reusable bags with your company. People will appreciate your sustainable effort while also giving your business free advertising every time they use it.
- Keep the Coffee Flowing and Waste to a Minimum: Coffee is an important part of an office environment but the small, plastic, single use coffee cups can be detrimental to the environment. By investing in reusable k-cups, you minimize waste and still keep the coffee flowing. Plus, the cost of bulk coffee grounds is ultimately less expensive than the individual cups.
- Recycle and Retain Customers: You can use recycling as a method to retain consumer loyalty. For example, if you sell make up products, consider offering your customers a discount on their next purchase when they return an empty case. This encourages your customers to recycle while returning to your company.
- Address your Energy Usage: Ask for an energy audit from your power supplier to find ways your business can save money. This can help identify which equipment needs updating or when to use energy during off-peak hours.
By incorporating sustainable practices into your business, you are not only retaining a higher rate of returning customers who support your green movement but you are also saving your company money in the long run. Consult your accountant for other ways your company can save by going green. In many jurisdictions, reducing your power use can also qualify your business for a tax break. Check in with your accountant to see if your small business qualifies. For more questions regarding potential tax breaks, contact our team of experts at Bakersmith Bookkeeping Group!