Did you know that 44% of investors won’t invest in a company with poor sustainable performance? Having a transparent and sustainable business strategy is vital to strengthening your brand and growing your business. Sustainability is no longer the future—it’s the present. In this blog, we’ll be going over ways to grow your business by going green and how it can benefit your profitability.
1. Going Green Saves You Time & Money
Sustainable business strategies—such as offsetting your carbon emissions, reducing your waste production, and limiting your use of water, energy, or raw materials can significantly reduce your production costs. Plus, by going green, you will see an increase in your revenues. You’ll be able to expand into new, profitable markets while enjoying great tax benefits such as:
- Tax credits
- Business Deductions
- Government subsidies, etc.
2. Going Green Strengthens Your Brand Image
One of the greatest benefits of going green is getting ahead of your competitors and strengthening your brand image dramatically! More and more businesses are investing in sustainable business practices—and for a good reason: it’s elevating their image positively and helping them grow their sales.
One major reason for going green is that the market is demanding it. Consumers are becoming increasingly aware of environmental issues, ethical activities, and the environmental and social consequences of their purchase decisions. If they have the ability to make a decision, the majority of consumers would rather spend their money on a sustainable product than a non-sustainable one.
Sustainable practices offer nothing but positive effects on a company’s competitive position and reputation. Generally, sustainable products have a distinctive quality that makes them unique. By going green, you can fortify your brand and customer loyalty, thus allowing you to charge higher prices for your products & services.
3. Going Green Makes It Easier to Attract Top Talent
A common worry business owners have about going green is losing capital by investing in sustainable products. Fortunately, going green is known to boost your business! First of all, your business will benefit from going green in many different ways, such as increased customer loyalty and improved brand image. Secondly, a lot of people would rather work for a green company for a slightly smaller salary than for a larger company with no sustainable agenda.
Results of a survey conducted on 1,000 employees working for big companies showed that 70% of people are more likely to work for a company with a strong environmental agenda. Nearly 50% of respondents (of which 75% were millennials) would accept a $4000-10,000 pay cut. That’s capital you can use to invest in sustainable business space! Also, greening up your business will help attract and retain top talent to work for your company. 19% of businesses today are using sustainability credentials to attract the best people to work for their company.
4. Going Green Keeps Stakeholders Happy
It’s not just employees and consumers who care about your business’s green practices. Non-governmental organizations and media encourage companies to include sustainability as a fundamental part of their business activities. As previously mentioned, sustainable businesses are more interesting to stakeholders, with 44% of investors saying that they would rather “divest from companies with poor sustainability performance.” Internalizing these stakeholders will be highly profitable in the long-run. Long-term value creation leads to strategic business benefits such as:
- Innovation
- Differentiation
- Greater competitive advantages
Grow Your Business with Aceneca
When it comes to growing your businesses, people don’t usually think about sustainability. However, it is one of the best ways to attract loyal customers and grow your company. We hope this blog helps you see how to grow your business by going green! At Aceneca, we want to spread ideas that could potentially become the seed for a profitable business. Our purpose is to guide your efforts to create a viable and profitable business while making positive environmental and social changes. With the implementation of purpose and shared value, we can help you grow your business AND make a difference! Click here to get in contact with us today.