The planet is getting a tiny bit cleaner as more businesses start to incorporate “going green” into their systems. Environmentalists and share holders are putting more and more pressure on companies to do so because as time goes on more and more people value a green business. But Mother Earth isn’t the only one reaping the benefits: Companies are finding that going green is bringing in the green.
Business small and big alike are finding that going green is saving them money in the long run and being branded as a green business is increasing sales.
Business Going Green
On the small end of the spectrum Brilliant, a NYC & LA bases luxury transportation service replaced their transport vans with clean running, bio fuel mercedes sprinter limousines as well as swapping out all their cleaning supplies to be bio-friendly and not require the use of fresh water. A small change that cost a reported $230k initially, but is is almost half way in paying that back with savings 2 months into the new year.
Glasses.com started recycling product and shipping supplies in the tail end of 2014 and after an initial implementation cost, the company reports saving money only a few months into the new process.
Conversely on the big end of the spectrum giant corporations like IBM saved more than $370 million from its “going green” efforts compared to the previous 19 years of not being green minded. Other big companies like Frito Lay have reported re-tooling factories to burn waste for fuel and buying electric vehicles increasing profits and adding to savings as well.
Green Business Practices
Recently the younger generation that is filling leadership roles and founding new businesses is even more inclined to incorporate green business practices than ever before. According to an MIT study 25% of survey respondents said they were willing to invest and implement green practices into their businesses in 2009, whats interesting is in just about a year later that number jumped up over 50%. A year after that? Another jump up to about 70%. The point being is businesses, and indirectly the public, value green business practices more than ever.
This trend is only going up. Not only has it been shown that going green can save money on operation costs but the customers are going to value green business more and more. When a potential customer has a choice to make between to similarly priced products or services they very well may make a decision based on how ethical one company is compared to the other. And a big part of that ethical perception is how “green” a company is.
So if you run a small business, or even a big one, start examining where the easy wins are for going green and start there. As savings and profits rise, you can use that extra cash flow to invest and implement more green practices and achieve and “upward spiral” effect.