10 ways going green can grow your business

By Tristan Kavanagh

1. Competitive advantage

Going green can have a significant impact on your business, depending on what industry you are operating in. Shareholders and investors are more likely to invest in business models that are sustainable and are consciously reducing their impact on the environment. Many investors are even happy with smaller returns, knowing their money is being used in ways that are beneficial to the environment.

This is becoming increasingly common amongst investors, as they acknowledge the change in consumer choice to a more sustainable future. Individuals are more aware of the impacts their money has on the environment they live in. Evidence of this is everywhere and has been seen in the recent rise in ethical super funds and shares such as in Beyond Meat and Tesla, which have been named the millennials choice of shares. A clean future is something many consumers are looking to invest in, and having your business positioned in a way to support can get you, new customers.

2. Encourages investment

This change to sustainable production processes has been acknowledged by many of the biggest corporations such as Apple and Amazon. Both acknowledging their impact and pledging to be carbon neutral by 2040. This hasn’t always been the case as many company’s used to the primary focus of returns rather than the environment. However, it has become increasingly obvious the strength of a customer base that occurs when businesses act ethically and take responsibility for their carbon footprint. An example of this is Nikola, a company with $0 revenue worth over 10B as it has a vision for a clean future for trucking, something many individuals believe in.

This change of behaviour to invest in clean energy is a clear indication of the support investors and consumers give to companies that invest in the environment. Creating a company that looks to have a zero-carbon footprint and help achieve sustainability makes consumers more likely to want that company to succeed.

3. 4. Brand awareness / attract green customers

As customers’ expectations of businesses increases. It’s not just about providing a product. But also sourcing and manufacturing that product is a way that reflects its consumer’s values.

Supporting the green movement from a business perspective is essential as it places trust within the customers that you have their best interest at heart. Furthermore, it attracts green customers. although there are two sides to every coin, its unlikely to drive away other customers so the effect is only positive.

5. Reduce waste and decrease cost

With falling costs of solar panels and installation. Along with falling interest rates, going solar has never been more attractive. This is an investment over time and can be done gradually. Another way to decrease costs and reduce waste is to go paperless, due to recent events being flexible and removing the reliability of paper files is essential. The removal of single-use items will save both money and help the environment, it might just take a little time getting used to.

6. Tax benefits and other financial incentives

Depending on where you are operating, the government can offer tax benefits and financial incentives for businesses that go green. These can come in the form of tax breaks, rebates, and other incentives and something worth looking into.

7. Reduces reliability on other company’s

Reliability on other companies for inputs that are not part of the production process can be a risky game. A perfect example of individuals wanting to reduce reliability on big companies for inputs is clear in Australia and all over the world with the recent growth in solar panels to power homes and businesses.

The use of solar panels has grown 700% over the last 5 years and with falling costs of installation and panels, growth is expected to increase further. Reducing reliability on other companies can be greatly beneficial and reduce shocks of product shortages and other financial impacts.

8. Improve brand image and reputation

Improve your company’s reputation and brand image with your green approach to business. People love organizations that care, and a polished public image will mean more success for your company. Going green means, you’re taking action to help the planet and the people who live on it—not just yourself and your customers. Going green also benefits the economy as a whole, and supports a global cause of reducing reliability on non-renewables.

9. Establish community relationships

Building corporate responsibility and ethical leadership into business plans can help establish vital community relationships and strengthen local bonds. This is evident in many hospitality businesses that offer “pay what you can” concept to help serve the poor. This concept puts trust in the consumer as it changes the dynamic from being sold something by a business, to you selling yourself on how much the meal was worth.

10. Healthier work environment

Choosing more sustainable products have the added advantage of not only being planet-friendly but people-friendly, too. Eco-friendly cleaning products, for instance, which are plant-based and 100% biodegradable, contain no hazardous artificial chemicals. Although currently more expensive due to the lack of mass production, using these products also further accelerates the change to biodegradable chemicals as it allows for greater productivity and decreased costs.

Prepared by Patrick O’Brien

About the author

Tristan is a writer from Sydney Gardeners and is passionate about sustainability and the environment. His passion has grown from his experience working in nature. You can view more of his works here. sydneygardeners.com.au

More about Irish Tech News and Business Showcase here.

FYI the ROI for you is => Irish Tech News now gets over 1.5 million monthly views, and up to 900k monthly unique visitors, from over 160 countries. We have over 860,000 relevant followers on Twitter on our various accounts & were recently described as Ireland’s leading online tech news site and Ireland’s answer to TechCrunch, so we can offer you a good audience!

Since introducing desktop notifications a short time ago, which notify readers directly in their browser of new articles being published, over 50,000 people have now signed up to receive them ensuring they are instantly kept up to date on all our latest content. Desktop notifications offer a unique method of serving content directly to verified readers and bypass the issue of content getting lost in people’s crowded news feeds.

Drop us a line if you want to be featured, guest post, suggest a possible interview or just let us know what you would like to see more of in our future articles. We’re always open to new and interesting suggestions for informative and different articles. Contact us, by email, twitter or whatever social media works for you and hopefully, we can share your story too and reach our global audience. We are agile, responsive, quick and talented, we look forward to working with you!

If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at Simon@IrishTechNews.ie or on Twitter: @SimonCocking