5 Ways Your Business Will Benefit From Being Sustainable
Sustainability. A word we hear bandied around these days, but what does it actually mean for your business to be sustainable? What are the benefits, aside from for the planet, but for you, the business owner and your business. We all like the idea of being sustainable, we all know it’s the ‘right’ thing to do, but do we actually know how to put the plan into action effectively in our personal live and our businesses?
Whether you’re committed to the cause and do your bit to live as sustainably as possible or whether you instantly thought of hippies and recycled toilet paper upon reading the title of this blog, we urge you to stick with us here. This topic is very serious and it’s not going away, we aren’t going to go into the doom and gloom of turtles and trash island as we’re sure you have seen it all before. As a business owner, you have the power to make a real difference, plus, being ‘sustainable’ can actually work in favour of your bottom line, continue reading to find out how.
What Does It Mean To Be A Sustainable Business?
We’ll keep this one short, a sustainable business operates with no negative impact on the planet, whilst considering both its profits and the planet.
How Will My Business Benefit From Being Sustainable?
We’re so glad you asked. Let’s jump in.
Sustainability Is Attractive To Employees.
Aside from the obvious moral reasons, this might be the biggest green flag (see what we did there) for transitioning your business into sustainability that there is. The majority of workers today want to work in a considerate establishment that cares about society and the environment. In fact, in a recent article by Forbes, Gen-Z, those born in the late 90’s and the future work force of our country, are now being labelled as “The Sustainability Generation”. With 75% of Gen-Z respondents stating that they are more likely to make decisions based on ethics and sustainability.
The sustainability revolution has been put into hyperdrive and Gen-Z is in the driver’s seat.
Therefore, to attract vibrant and talented employees in the future sustainability is a non-negotiable element and since employees are the crucial cogs that can take your business to the next level it is in your best interest to ensure your business shows environmental initiative wherever possible. Maybe think of this as future proofing your business and the planet.
Sustainability Is Attractive To Investors.
Just as being ‘green’ is important for attracting the right workforce, it’s also an essential criteria for a growing number of investors. If securing investment is something you’d like for your business in the near or distant future, it’s worth bearing in mind that a growing number of investors are now more focused on climate change when deciding their portfolios.
Schroders Global Investors Study, which surveyed 23,950 investors from 33 locations globally, has found that sustainability is moving up the agenda post-pandemic, with 55% of investors now placing greater importance on environmental issues.
57% of respondents reported that they would feel positive about moving to an entirely sustainable portfolio assuming the same level of risk and diversification, with younger people (60%) particularly keen.
A shocking 60% of investors also said they would pull the plug on an investment based on emissions and climate change.
Sustainability Gives Your Company A Strong USP.
As mentioned earlier in this blog, the younger generations who make up a growing portion of purchasers are selecting where they spend their money based on businesses sustainable efforts. Forbes also recently published that shoppers would spend 10% more on a product if they were confident that the company selling it was sustainable.
Not only does being sustainable allow you to make a serious difference to the cause, it can also ‘win’ you customers. Authenticity and ethics can make for a lovely, inspiring marketing message putting your business in a good light with consumers. Win, win, if you ask us.
Being Sustainable Can Reduce Your Costs.
It’s a common misconception that ‘going green’ will send your business costs through the roof, but making sustainable decisions on your supply chain, energy use, materials and waste can all offer attractive benefits to your bottom line in the long term.
How you ask? Well, a change as simple as switching to energy efficient lighting, reducing your corporate carbon footprint, can save you as much as 90% on your bills after the paying off the initial investment in as little as 2 years. That’s not a percentage to be laughed at.
You can even pay less company tax by applying for schemes to help you demonstrate that you’re operating more efficiently and producing waste that’s less damaging to the environment. Whilst these are not immediate benefits, they are not decades away and can be achieved quickly if you set your business goals in the sustainable direction. After all, the smartest of business people are always thinking 10 steps ahead of the curve.
For more information about this and to find out if you qualify for relief, apply here.
Being Sustainable Can Actually Save Our Planet
Whilst there are heaps of benefits for you and your business when you make sustainable switches, all of these benefits become null and void if there is no future for our planet. We’ve all seen the news this year, wild fires breaking out across the world, marine life declining, even now in October, we’re expecting a heatwave and things aren’t getting much better.
As a business you have the power to influence a whole community of people and make a major impact. Now is the best time, for you, your business and our planet to make the switches for not just a better future but to ensure we have a future at all.
We hope this article has inspired you to make those all important changes within your business. We work with some wonderful sustainable companies such as Polar Endurance, and we are able to offer them a ‘clean’ fulfilment service. By storing your stock in our biodegradable warehouse racking and working with a range of compostable packing solutions we can take some of the green headache off your hands.
If you’re interested in how we can help your business to grow in a sustainable manner then please reach out here or fill out the form below.