With the green generation leading the way, consumers are starting to care about the environmental impact of the products they buy. As a result, businesses are following the same eco-friendly path in order to help the environment, whilst capitalising on the growing demand and saving money with reduced energy costs. Specialist Chartered Accountants can help you implement them so everyone wins. Small Business Advice Week takes a look at 5 simple ways your business can save money through green initiatives.
Innovative and Renewable Energy
Renewable energy sources such as wind, solar, and geothermal have been impacting the business world for many years. However, innovative methods of sourcing energy are now more mainstream than ever and will continue to grow throughout 2018 as the technology is refined, becoming ever more cost-effective.
On an everyday basis, lowering an office’s energy consumption can also be achieved through simple changes such as the use of smart thermostats, better insulation and replacement of incandescent light builds with LED bulbs. Businesses can even offset their usage and costs by implementing renewable methods such as solar panelling.
Whether its energy, products/supplies, or food, any waste directly goes against green behaviour, which can damage your reputation, as well as your bottom line. Reports suggest that 70 billion pounds of food is thrown away each year in the US alone, creating more greenhouse gases and global warming potential than carbon dioxide. As a result, many restaurants, supermarkets, and even food producers are cutting back on waste by developing zero-waste stores and donating leftover food to causes such as homeless shelters and food banks.
Advances in Plastic Recycling
2018 is set to be of vital importance when it comes to the issue of recycling plastic. This problem has been a common focal point in green projects in previous years and continues to cause concern. 150 million tons of plastics are produced every year and with only a small fraction being recycled the majority ends up in landfills and the oceans, slowly killing us. Recent developments in new plastics that are easier to recycle along with innovative findings on how to efficiently recycle exciting plastics are all set to play their part in reducing waste.
However, businesses are being encouraged to do what they to help the planet by acknowledging the importance of recycling plastics. Companies can drastically reduce their carbon footprint in a low-cost manner by simply adding recycling bins to their offices or offering plastic-free alternatives.
Marketing and advertising departments play an important role in every company, especially when it comes to reducing their environmental impact. Eco-friendly advertising trends and methods are becoming more and more popular with, for example, companies choosing to advertise on billboards that also have an ecological benefit (hosting an urban garden or purifying the air). Departments are also reducing their use of paper products which not only helps the environment but also saves on printing/advertising costs.
The packaging your company uses is a relatively simple, cheap and easy change to show your commitment to eco-friendly causes. Companies can go green by opting for eco-friendly materials and following key principles such as easy disposal, great versatility (for reuse) and avoiding plastics.
Small Business Advice Week has looked at Clean Growth Strategies for SMEs, for more advice on how to save money through green initiatives head to