Sustainability in SME'S

If you are like most businesses out there, you must be wondering how protecting the environment can help your business. There are a LOT of practices that are considered sustainability efforts - but now let’s explore how becoming a sustainable business is actually a profitable move.


Improves The Brand Image and Helps Get Competitive Edge

Customers are highly aware of environmental concerns, compared to how they were 5-10 years ago and they are likely to buy from the organization that is known for practicing sustainability.

According to a survey by the Natural Marketing Institute, over 50% of consumers admitted that a company’s environmental practices influence their buying decision.

Spreading awareness and practicing sustainability not only builds up a positive brand image, but also penetrates at a deeper level to employees, their near and dear ones, and beyond. However, action speaks louder than words. Your business should do more than just preaching.

Increases Production and Minimizes Costs

The way you handle your energy, water and waste can help you save overhead costs. For example, if you replace your basic lighting with more energy efficient lighting, it will make a great difference to your energy bills. Similarly, getting your dripping faucets or taps fixed not only cut down your water bill but also saves a lot of water. This is because dripping faucets can waste nearly 10,000 liters of water a year.

You can go the extra mile by installing geothermal heating and cooling systems at your workplace. Those efforts may seem expensive, but they will justify your investment in the long run.


Improves Employee Retention and Recruitment Rate

Employees want to work with organizations that support and operate corporate environmental programs. They don’t want to be associated with the companies involved in ecological disasters and community welfare scandals.

According to a survey by Adecco, over 50 percent of employees feel that their organizations should do “GOOD” for the environment and communities. They want to stay with the company that cares.

Bank of America has set a great example in this context by subsidizing their employees’ solar panel installations at home. Besides, the bank started offering an incentive when their customers buy an eco-friendly vehicle. 

Helps You Comply with the Regulations

With climate change, global warming, shrinking water resources, and pollution, governments are imposing regulations to save the environment. Incorporating sustainability into your corporate practices will help you avoid penalties or hefty fines under the environment legislature.


Helps You Attract Investments and Funds

Many financial and investment experts have found that organizations with sustainability plans are likely to attract investors more than those who don’t have.

According to a 2007 Goldman Sachs study, companies known for environmental social policies have surpassed the general stock market by 25 percent with 72 percent companies getting ahead of their competitors.


Are You Ready to Become a Sustainable Business?

So you now understand how going green can support your business. It not only adds to your business value, but also encourages customers to choose you. However, sustainability should be a norm, a duty, a responsibility rather than a burden or an imposed rule.

Becoming a sustainable business is not that difficult. It all starts with some small steps like saving electricity and water, growing a plant, educating employees about the environment and using renewable resources.

Source: Romit Malhotra (Small Business Bonfire)

Latest blog

How to Structure your Funding Pitch
An impressive pitch deck is key for acquiring funding and it’s a must if you want to convince an angel investor. Here at Sciencer, we work with our clients to translate and frame their ideas in a way that the conversation with investors can be initiated.
Inflációkalauz - Hatékonyság, Profitmaximalizálás és Piaci Expanzió
Mit tegyen egy vállalkozó, hogy életben tudja tartani cégét és ne járuljon hozzá a tomboló inflációhoz sem? Optimalizálás, innováció, digitalizáció, folyamatmenedzsment - többek közt ezeken dolgozunk ügyfeleinkkel és írunk a blogon is. Az alábbi tanácsokat ugyan nem mi írtuk, de maximálisan egyetértünk velük:
4 Ways to Fund Your Startup as a Solopreneur
While there are several different ways to fund your new business, many options are either expensive, require collateral (such as personal assets), or involve the participation and expectations of other people (friends and family loans, funding from angel investors or venture capital financing).
The Great Value of Process Management in Your Business
Team members who represent you and deliver your service are not assets to your business forever, even if they are happy with their work. Although this is not the sole reason why you should consider process management when it comes to your business and its operations.