Sure, going green is good for the environment. At least, that's what the scientists say. But businesses need to know that eco-friendliness can also benefit their bottom line by upcycling, using less energy, and other green initiatives.
Most green initiatives either reduce the use of something or reuse it in some way. Both of these actions have the added benefit of reducing costs to a green business, which will improve their profit margin over time.
Easy Ways to Have a Greener Business
Most businesses can reduce their energy use in some way without having any negative impact on the business or its employees. Changing to low-flow toilets, high efficiency appliances and HVAC systems, and energy-efficient light bulbs can save a considerable amount of energy and water use, which translates to lower electric and water bills for the business. Many of these improvements will pay for themselves over the life of the equipment, some many times over.
Simple changes like printing on both sides of the paper, using draft print mode when possible, and leaving fewer lights and equipment turned on when no one is in the office can also save the business money. For larger businesses, implementing a recycling program can also help the company's bottom line. Many recyclables can be sold to recycling companies, and the resulting income can be reinvested in the company or used to provide employee benefits that will add value in the long run.
Taking it to the Next Level
Some pricier initiatives may nonetheless be worthwhile for businesses who can invest up front and reap the benefits later. Solar or wind energy systems have a high initial cost, somewhat tempered by energy tax credits, but over time, these systems can add up to tremendous energy savings.
Depending on the energy needs of the business, these systems can sometimes even generate more energy than the business needs, which can then be resold to the power company to help pay energy costs and reduce the business's overhead. A financial advisor or energy consultant can help calculate the benefit of alternative energy solutions to see if it will pay off for your business.
Other Benefits to Going Green
Besides cost savings, there can be some other benefits to businesses who go green. If you advertise your efforts in your PR campaigns, you may find that your reputation in the community will improve. Top candidates may be attracted to companies that are environmentally responsible, improving your labor pool.
Another unexpected benefit to a green campaign in the workplace is that employees may be healthier and more productive. By offering organic foods in the cafeteria and using natural, chemical-free cleaning products, companies can create a healthier environment for their employees and help them thrive. Businesses who make these changes have employees who take an average of 20% less sick days than others who don't, according to the Green Business Bureau.
Although some of these changes are inexpensive, installing a solar energy system or upgrading to energy efficient appliances has a large upfront cost, with monthly savings afterward. A business cash advance can provide the up-front working capital needed to implement green initiatives, which will pay off as your company reaps the benefits.
