Being sustainable is good for the environment and your business. While adopting greener practices may take some getting used to, these small steps can attract new customers and be cost-effective in the long run. In this article, discover five budget-friendly sustainability tips for small businesses and how you can benefit.
1. Use Eco-Friendly Packaging
73 percent of respondents from an Ellen McArthur Foundation Survey said they care about sustainable packaging because they’re concerned about the environment and its future. Sustainable packaging uses eco-friendly material. Examples include:
- Forest Stewardship Council (FSC) certified wood and paper products.
- Compostable materials, such as PLA (starch-based) and cellulose, are alternatives to traditional plastics.
- Recycled paper products, like corrugated cardboard bubble wrap and boxes.
Although this seems like a big change, adopting eco-friendly packaging will save you money in the long run. You won’t have to worry as much about waste management fees and green taxes and incentives can help offset your expenses. Check out Eco-Friendly Packaging Tips for more information.
2. Use Energy-Efficient Products
Energy-efficient strategies can be more cost-effective for your business in the long run. Here are a few ways to cut back on energy use and lower costs:
- Install LED lights – LED bulbs can reduce your electricity use by up to 80 percent, reducing the cost of your power bill.
- Unplug equipment – Appliances and electronics can use standby electricity even when turned off. If possible, unplug your equipment overnight and when not in use.
- Insulate your hot water tank and pipes – Electricity bills can skyrocket when you need to heat your business in the winter. By insulating your hot water tank and pipes, you’ll retain more heat and use less electricity.
- Update your equipment – Old equipment can be a huge source of wasted electricity. Opt for new, energy-efficient technology with ENERGY STAR certifications.
For more ideas, check out our article, 10 Energy-Saving Tips for Small Business Owners, and BC Hydro’s Tools & resources for businesses.
3. Implement a Flexible Work Policy
Implementing a hybrid or remote work policy can be beneficial for your employees and your bottom line. Telecommuting is a great option for parents, people with disabilities, as well as employees struggling with work-life balance. Plus, it can result in increased productivity and higher staff retention.
When employees work remotely, they’ll reduce their carbon footprint since they don’t have to commute. Fewer staff members in the office also reduce your energy use and lower the cost of your electricity bill.
4. Choose Eco-Friendly Suppliers
When possible, opt to source locally or from suppliers with sustainable practices. Using local suppliers will reduce transport emissions, support the local economy, and even cheapen shipping costs.
Here are a few questions you can ask to find out if a supplier is sustainable and aligns with your ethos:
- Do they share the same values as you in terms of sustainability?
- Have they gone paperless?
- What steps have they taken to be a more eco-friendly company? Is there proof?
- Do they have sustainability certifications?
- Have they measured their carbon footprint? Or, if they’re trying to reduce it, are they on track to meet their target?
See this HSBC article for a more in-depth guide to finding a sustainable supplier.
5. Reduce Waste
Reducing your small business’ waste helps save you money and protects the environment. Here are a few ideas to consider implementing in your workplace:
- Go paperless – Avoid paper waste by using digital documents and communications.
- Have recycling and composting available – Many items can be recycled and composted. This reduces the cost of waste disposal and diverts waste from landfills.
- Keep track of inventory – Monitor your inventory so you don’t order too much and potentially spoil your product.
- Reuse and repurpose – Encourage employees to reuse items whenever possible, whether it be using the coffee mugs in your lunchroom or upcycling old boxes for storage.
You can find more tips in our article, Make Your Small Business More Eco-Friendly.
What Are the Benefits of Being Sustainable?
Implementing eco-friendly business strategies will minimize the environmental impact of your operations and lead to a healthier planet. These practices will also positively impact your business in many ways, including:
- Increasing brand loyalty – According to this IBM Institute for Business Value Survey, 44 percent of consumers now opt for products and brands that align with their values. As a result, taking steps to be a more environmentally friendly business will increase brand loyalty.
- Standing out from competitors – Implementing sustainable initiatives will help you distinguish yourself from competitors.
- Lowering expenses – Over time, small changes like installing energy-efficient lights, reducing waste, and conserving resources will have a huge impact on your bottom line.
Small Business BC is Here to Help
SBBC is a non-profit resource centre for BC-based small businesses. Whatever your idea of success is, we’re here to provide holistic support and resources at every step of the journey. Check out our range of business webinars, on-demand E-Learning Education, our Talk to an Expert Advisories, or browse our business articles.