These are the 5 benefits of going green for businesses
Going green creates positive brand sentiment which attracts new customers and keeps them loyal.
The modern consumer is attracted to green business.
By going paperless, recycling used electronics and reducing their energy consumption, green businesses can lower their costs.
Going green could qualify your company for tax breaks.
Green businesses are more productive and have lower turnover.
1 – Green Initiatives Create Positive PRA
The social responsibility of a brand’s reputation is more important than ever. There are many niches that offer enough choices for consumers to choose from. To retain and grow their business, brands must align themselves with their customers’ values. Research has shown that social responsibility and environmental consciousness are not just a priority value for certain niches. This is something that every business should be focusing on, or risk losing customers to more environmentally-conscious competitors.
2 – Marketing ROI Increases by Going Green
73% of consumers said they would change their buying habits to lessen their environmental impact. Make sure you capitalize on this data and include environmental sustainability in your marketing. No matter what niche you are in, distinguishing yourself from the competition in your marketing materials will help you gain more attention. It is possible to be the most environmentally-conscious business in your niche, with the policies and initiatives to prove this, and attract new customers.
3 – Environmental sustainability lowers your total expenses
You can save billions by changing the way you use electricity, water, food, and office supplies in your company. This is exactly what General Motors did when they digitized all manuals and processes that were printed on paper. Remote work policies can be another way to save money and go green. You can reduce your consumption. Global Workplace Analytics research shows that there are approximately $10,000 annual savings per employee when a position is converted to a remote full-time job. A remote workforce reduces the need for office space which in turn naturally reduces your company’s carbon footprint.
4 – Going green protects against regulations while qualifying your business for tax breaks
You may already feel the rising costs of complying with government regulations depending on your industry. Going green is a way to protect your business from environmental regulations that may become more urgent due to climate change.
Going green also qualifies businesses for future and current tax incentives that encourage them to go green.
You get a 30% tax credit for investing in wind or solar energy for your company.
Geothermal energy investments are eligible for a 10% credit
Green lighting and HVAC systems can be deducted up to $1.80 per sq. foot.
Talk to your accountant about what you can do to help your business take advantage of green tax incentives.
5 – Going green lowers turnover and improves employee morale
UCLA’s study found that employees who work for companies that prioritize environmental sustainability are 16 percent more productive in their jobs than those who do not. This is because they have a reason to believe in the mission of the employer. They feel they are doing more than just earning a paycheck.
This post was written by Steven Elia Co-Founder and Recycling Director at eCycle Florida. eCycle Florida is a R2 Certified electronics recycling company in the state of Florida. Our processes and procedures are dedicated to the proper destruction and recycling of your electronics. eCycle Florida is your go-to for commercial electronic recycling.
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