Environmentally Friendly Opportunities Your Business Can Save Money

Did you know that 54% of American businesses have formal green programs? There are a lot of reasons companies go green.

If you run a business, there’s a good chance that reducing your carbon footprint isn’t your sole priority. But what many business owners don’t realize is that eco-friendly efforts aren’t just good for the planet, but they can also save you money in the process, as well as offering additional benefits such as improving the workplace culture and encouraging collaboration between staff. If you’re unsure where to start, these are a few opportunities your business can take advantage of to save money (such as with renewable energy) and do more for the planet.

Ditch the papers

More businesses are going paperless these days. Eighteen percent say they use no paper. However, this means 82% of companies need to do more.

Paperless operations are one of the easiest ways to be a more environmentally friendly business, and you might be surprised what a positive difference it makes. Whatever industry you work in, from construction to interiors to accountancy and marketing, paper documents form part of how we all work, whether it’s internal emails, invoices or agendas. But all that printing can cost a lot of time and money, not just in the paper itself but equipment and replacement inks. Going digital is more efficient, eco-friendly and cheaper for your business.

Bring your utilities down

An energy audit is a great way to prompt changes to your utilities, bringing down your HVAC bills, saving money on water usage and helping you to make changes to your premises that will reduce energy costs. It’s also advisable to work with a commercial energy broker who can advise you of the best suppliers to work with for your needs, so that you’re not paying more than you need to or using more energy than necessary. So many businesses continue to use the same suppliers simply out of habit but switching to a new company can save your business considerable amount of money.

Install energy-efficient equipment

Technology and workplaces consume huge amounts of energy every day, so switching to energy-efficient alternatives can help to reduce the amount of electricity used which is better for the planet and your accounts. From kitchen appliances in shared spaces to computers, LED lighting and smart thermostats for heating the building more efficiently, there are various ways that business owners can consider their energy usage and bring the cost of running a business down in the process.

Work with suppliers who share your values

Who you work with is integral to your reputation and showcases what you stand for as a business? But there are also opportunities to save money here too. Green partnerships, whether it’s through logistics or materials, caterers and product suppliers, or even accountancy firms, can all encourage better environmental practices across the board, and in switching to a new supplier, you can find businesses that fit better within your budget as well as align with your values.

Provide reusables

Single-use plastics are a huge concern for the planet, and they’re also incredibly costly for individuals and businesses alike. Many businesses provide food and drinks for their staff as a perk of the company, but these can all add to the waste the business produces. Its money being thrown down the drain, as well as adding to landfills, so instead, companies can choose reusable alternatives that are more environmentally friendly and cheaper in the long run.

Promote telecommuting

Telecommuting is something that more businesses are open to now, as a result of the pandemic, but the benefits aren’t just for employees. Telecommuting takes cars off the road which means less air pollution and petrol consumption, which is better for the planet, but it also boosts productivity which brings in more money for your business. Studies show that remote working can help to reduce burnout, which is beneficial for the whole company, as it reduces staff turnover, absence rates and also means that business owners can reduce the size of their premises as there’s less need for huge offices and work environments.

Final thoughts

Eco changes aren’t just for the planet, though that’s a huge advantage. They can save businesses money and even improve efficiency and productivity in the process. From changing energy suppliers and considering your usage to being open to remote working and updating equipment to eco-friendly alternatives, there are numerous ways that businesses can be both greener and more profitable.