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Greenify Your Business To Save Money

Greenify Your Business To Save Money

It doesn’t matter whether you are a freelancer working from home, whether you have begun an eBay empire or whether you are in the throes of setting up a small accountancy firm specialising in providing support to contractors, there will be ways that you can flex your eco-credentials.

Being green is something that has permeated throughout our home lives resulting in us trying to recycle more, switch to a hybrid car and turn the lights off when we don’t need them on. For our startups, we tend to focus on more pressing issues such as funding, implementing our business plan and cash flow concerns. The notion of dedicating some of our hard pressed time to help the environment comes low down on the list. However, when you consider greenifying your business, you will soon come to realise just how much money this can save you.

Utilities

You may have a warehouse to store imported goods, an office where your startup is based, or a shop from which you sell your wares. This premises needs to be heated, have mains water running to it, and probably has an Internet connection linked to it. All of these require energy. By seeking the advice of a firm like Encope, you can audit your utility usage and formulate an energy saving plan that will help you comply with legal requirements and save you money.

Beyond switching lights off and running taps for a minimal time, you can investigate switching your energy sources. Instead of paying extortionate amounts to heat a warehouse, you may want to look into solar panels and wind turbines as cheaper and more sustainable forms of energy.

Green Policies

If you have a small staff team, try and encourage them to sign up to your eco-friendly policies and incentivise for sustainable practices. Consider implementing a cycle to work or car sharing scheme. While this doesn’t scream of money saving, the kudos and PR that a more eco-friendly business brand creates are worth considering. By showing the world that you are considering the impact that your business is having on the environment, they may consider purchasing from you and using your services. Millennials are more concerned with integrity than pricing, so it can often pay to be green.

Goods

If you construct your products overseas because this is the cheaper option, you may need to reevaluate your pricing strategy. Yes, your product may be cheap to produce, but is it of the highest quality? The chances are the air or freight miles are hugely damaging to the environment, and this is a fact you don’t publicise to your customer base. Instead, focus on the local as this is more prominent in consumers minds. It may cost a little more to produce but your item may be of superior quality, and you can charge more for it. Being greener, limiting your carbon footprint, and detailing your pricing strategy to your consumer empowers them to make buying decisions with their conscience.

Forget saving money at whatever cost to the environment, and consider saving money by helping to save the environment; the two can go hand in hand.

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Poppy
About author

Poppy loves personal finance almost as much as she loves her two cats, Tif and Taz.
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