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Pros and Cons of Small Business Green Moves

Posted on October 1, 2017 by Matt Tomasino There have been 0 comments

The writing was on the wall years ago and today it is becoming a reality. The mobilization of green conscious applications has risen exponentially. More people are thinking twice before they plunk down their hard earned coin for low standard, Eco-unfriendly products. Consumers are demanding more transparency, USA made products and green choices alongside conventional ones.

Global manufacturer Unilever reported in May on a new international study revealing that a third of consumers (33%) purchase brands they believe are doing “social or environmental good”. The study also showed that substantial financial gain exists for brands that offer complete transparency with valid, sustainable credentials.

Also, “purpose-led purchasing is greater among consumers in emerging economies than in developed markets. While 53% of shoppers in the UK and 78% in the US say they feel better when they buy products that are sustainably produced, that number rises to 88% in India and 85% in both Brazil and Turkey.”

So, if your small business caters to foreign consumers, green initiatives could benefit the bottom line internationally as well as domestically.

It's not always easy to bring green products, services or anything else that is Eco-friendly into the business model. However, given the bottom line, these pros and cons of small business green moves may help you decide if it's worth it.

Small Biz Greening Pros

From activists to manufacturers, everyday the pros of the green industry grow. Many recommend that small businesses should heed the stats and go green or end up red. However, consumers are becoming more and more savvy, mock attempts at greening just to draw business doesn’t really work so keep it as real.

Reduce Costs

Whether it's switching to LED bulbs, stocking green office supplies or using non-toxic industrial cleaning products, saving money eventually emerges. For example, according to Arf Financial Business Banking, if you have eight employees and go paperless you could save upwards of $10,000 annually.

Increase Revenue

The benefits of stocking green products may have you clearing some shelf space. The Network for Business Sustainability reports that, “Green products let you build your customer base and even charge higher prices. Customers will pay up to 10% more for products that are green (e.g. organic, fair trade or made from recycled content).”

Uncle Sam Giveth

There are many incentives the government offers for your small business to go green. Most come in the form of tax credits that may apply to efforts like installing a rain catchment system or solar array, switching to energy efficient light bulbs, using wind power, or even keeping a bee colony.

Community Building

Showing your support for global as well as the local environment attracts consumers with the same sentiment. Moreover, it sends a message of inclusiveness, that you are standing alongside this community in an effort to make it better.

Employee Spirit

There is nothing better than employees who believe in and are happy to work at your small business. Embracing green moves shows employees that you care for them through your support for the environment which researchers found increased morale and enhance productivity.

Cons of Small Business Green Moves

There is always a con to a pro but when it comes to Eco-friendly moves the downside is minimal. Depending on your small business setup, these cons can easily be remedied over time.

Time Investment

Like any business switch, green small business change can take time. It requires educating yourself and your employees for a genuine mindset. Once the legwork and implementation is in full swing, according to a growing trend, the time should be worth the effort.

Shelling Out

Along with time, of course, comes money. Green change means out with the old and in with the new so the aforementioned light bulb change, for instance, can be costly. However, with tax credits, energy savings and other incentives, an upfront investment can pay for itself in the long run.

Transparent Vendors

Another initial effort would be searching and procuring green vendors. For instance, if your current small business zoo uses conventional feed from one distributor you may want to find another that sells organic feed. This can take time but can also be advertised so your visitors see how you embrace the animals just as they do.

 

All in all, the pros of small business green moves can easily outweigh the cons. In the past, it may have been more difficult to changeover but today there is a wide variety of resources to put your small business in the Eco-friendly driver’s seat while hopefully increasing your revenue as icing on the cake.


This post was posted in Blog and Green Library, Green Living, Your Green Business and was tagged with ENERGY EFFICIENT, NON-TOXIC, pros and cons, small business, USA MADE

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