5 Benefits of Running an Eco-Friendly Business

April 6, 2016

5 Benefits of Running an Eco-Friendly Business

With the exploding global population and ever-dwindling natural resources, being green is being emphasized now more than ever. While implementing high-efficiency technology may be beyond the reach of smaller businesses, there are things any business can do to be greener and minimize its carbon footprint, from reducing paper and energy use to holding online meetings to decrease the need for travel. Good for the Earth, your employees, and your bottom line, environmentally conscious business is a win-win-win proposition you can’t afford not to get on board with—and here’s why.

 1.      You’ll promote sustainability. From a purely humanitarian perspective, being green is definitely the right thing to do, to preserve our planet for ourselves and future generations. But from a business perspective, sustainability matters too. Reducing your business’s impact on the environment will aid its chances of survival and long-term success. Being less dependent on natural resources than your competitors will give you an edge as the cost of raw materials continues to rise due to climate changes and resource depletion. Conversely, relying heavily on such resources could eventually render your business defunct should the proverbial well ever run dry.

 2.      You’ll save yourself money. You don’t have to spend a lot to make green changes—and many of these changes will actually save you money. Reducing consumption can cut overhead expenses significantly. For example, printing on both sides can cut paper supply costs in half. The cost to you? Absolutely zero. Similarly, turning off lights, computers, and machinery not in use is a simply a matter of employee conscientiousness that can be cultivated. And using recycled materials whenever possible helps relieve the burden on landfills with no significant difference in cost to you. Binders.com (VIP/ATC) carries a full line of customizable eco-friendly chipboard binders and pad holders, 100% recyclable and nontoxic PVC-free polypropylene binders, and recycled metal binders, making everyday ethical business easy and affordable.

 While installing energy-efficient lighting and power-saving appliances requires a bit of cash outlay, they will quickly pay for themselves, not only in terms of reduced costs but also tax credits. The 2009 economic stimulus plan provides tax credit incentives to companies with environmentally friendly business practices, including using solar power and electric or hybrid fleet vehicles. Staying abreast or ahead of ever-changing compliance regulations will also save you from costly fines and even prosecution while positioning you ahead of the curve when it comes to innovation.

 3.      You’ll improve productivity and workplace dynamics. According to the Green Business Bureau website, companies that promote a safer, healthier workplace report a 20 percent decrease in employee sick days. This translates into lower medical costs for the company as well as increased productivity. Employee participation in going green is also good for morale, which correlates with improved physical and emotional health through job satisfaction. The perception that your company cares about its employees and about being socially responsible makes working there more attractive, enhancing your ability to recruit top young candidates and retain quality employees. Allowing employees to telecommute provides further gains in time and happiness while reducing stress and travel and parking costs.

 4.      You’ll enhance your brand’s image. Public and investor relations are pivotal to your company’s long-term success. As environmental consciousness grows, consumers are increasingly demanding more green products and services, driving market share that you can tap into by developing new products to meet those demands. Companies who emphasize their environmental efforts resonate with eco-conscious consumers and even would-be employees, who are more likely to choose and stay with companies they feel good about working for. Market yourself by highlighting green any changes you’ve made, from safer manufacturing processes to reduced resource consumption. You can also donate money to causes that benefit the environment.

 Likewise, businesses prefer to partner with and invest in businesses that make them look good. Going green opens you up to business opportunities that may not have otherwise existed. According to a Goldman Sachs study, companies in six industries considered leaders in environmental, social, and governance policies outperformed the general stock market by 25%, with 72% outperforming their peers since August 2005. 

 5.      Because you should. Being green is not only the socially responsible approach to doing business in today’s economic world—it’s imperative. It’s no longer simply enough to do no harm; companies are expected to proactively do good and make the world a better place. You cannot hope to have a good public image without green credentials, and refusing to adopt green initiatives will put you at a competitive disadvantage over time. Having the right green qualifications will promote your company’s stability internationally, locally, and internally, as many young people today report a preference for working for environmentally friendly companies. Start small and think big—every little bit makes a difference.

Start making your business greener today. Contact a VIP/ATC sales representative to order custom and in-stock eco-conscious binders, pad holders, and more.