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What Profit Is There In Green Industries?

Estimated reading time: 2 mins

Sustainability has become a strategic objective for a lot of companies. However, there are still businesses that are wondering what they could gain from embracing the green side of life. For a lot of small businesses, the question is not to save the planet, but primarily how to ensure that they can maintain a healthy and profitable activity. Ultimately, when wildlife protection is synonymous with business suicide, sustainability becomes a difficult, if not impossible, decision to take. But are there ways in which a sustainable strategy can lead small businesses to make valuable profits?

You can make it part of your brand image

As surprising as it might sound, going green offers a new feature to add to your business description. Indeed, there is not one business in the world that wouldn’t benefit from a positive reputation. Emphasizing the importance of your environmentally-friendly activities is not only key to meet new environmental regulations, but it’s also an advantage to attract modern customers. The Millennials generation of customers is susceptible to organic and fair trade activities. Consequently, there is a positive branding strategy to benefit from when you decide to adjust your premises to meet environmental measures.

You can provide supplies for eco-friendly companies

Contrary to the common belief, the green sector doesn’t endanger your business. You can adjust your activities to change your market position. Instead of competing against greener companies, you could become a trusted supplier for the development of green and sustainable industries. For instance, electric cars may not need fuel, but they need plenty of raw materials, which offers you the possibility to be part of a reliable and economical mining power supply chain for these. Another example is to provide carrier support to local farmers and their clients, or even to supply organic clothing companies with the necessary machinery. Sustainability doesn’t mean that you can’t provide machine-based services.

You can reduce your bills

If you can’t partner with a green company, you can make the most of the sustainable strategy to save money in your business. Indeed, by introducing energy saving applications in the workplace, you can significantly reduce your energy bills. Simple changes such as switching off the lights in rooms that are not used – such as conference rooms – can already pay off by the end of the year. Additionally, you need to train your staff to turn their computers off when they’re not at the desk. The right balance is not in depriving your staff of electricity, but in knowing when you should and shouldn’t use it.

You can be part of changing the world

If you’re excited about innovation, you need to join the Green Innovation & Finance Awards to discover that sustainability relies on smart technology and creative solutions as much as any other industry strategy. You could join a project to clear the ocean of waste, reduce the consumption of energy in winter in cold areas, or simply help businesses to switch to a paperless structure. Innovation is not only profitable, but it’s also incredibly reputable when it’s successful.

From building your reputation on green policies to building green innovations, there are plenty of options for small businesses to adjust their activities and budgets to sustainable projects. Going green won’t automatically get your budget in the red!

 

About the author /


Simon is a creative and passionate business leader dedicated to having fun in the pursuit of high performance and personal development. He is co-founder of Applied Change, a Business Change consultancy based in the UK. Simon is also an Ambassador for Gloucestershire business. Simon is an Associate Member of the Chartered Institute of Professional Development.

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