Saving the Planet and Your Profits: Can Going Green Actually Be Profitable for Your Business?

Guest post by a writer who wishes to be anonymous.

The most common reason as to why a lot of the companies shy away from joining the green initiative to save the planet is because they think it will cut heavily into their profit margins. Unfortunate as it is, the promise of ensuring a better future for our children and the planet as a whole is not a strong enough incentive to trump the lure of immediate gains in most cases. The good news is that it doesn’t have to be the only incentive because eco-innovation can also be profitable for businesses. The following points should shed some factual light on the misconception that environmentally friendly business practices can only be economically demanding without the promise of profit.

Investors

Investors realize the potential of eco-innovation and they know that going green will become an unavoidable option in the future, once all other options begin to run out. What this means is that banks, government agencies, private agencies and even crowdfund projects will be more interested in you if the new business you are starting is geared towards making the planet a better place to live in. The same also applies for established companies that are willing to make the transition to greener practices.

Potential

There is just so much business potential in the sustainability market for both young start-ups and established businesses to branch into that it’s almost ridiculous even from a strictly business perspective if somebody ignores the sector purely on account of misinformed and outdated preconceptions. For example, the promotional bags from Customer Earth are cheap, reusable and recyclable at the same time, essentially making them the perfect example where business meets environmental awareness. The retail businesses that do buy from them don’t lose anything in terms of money or quality, but instead they automatically serve to help the green initiative and gain positive favor in the eyes of everyone for the same action.

Waste Reduction

Waste management is a costly affair for manufacturers around the world and with China refusing to take up any more foreign waste, it is fast becoming a very big problem worldwide. As green manufacturing techniques work primarily towards reducing waste during manufacturing processes in the first place, it definitely is the way to go. Reducing waste decreases significant costs that are associated with waste management and treatment, which in turn makes for better profits. It has been estimated that by adopting more efficient manufacturing techniques, companies in the UK alone could save billions of pounds every year. Given that the UK is not even in the top ten nations list (11th) of countries when it comes to eco-revolution, further initiatives need to be taken to improve the UK’s participation for both environmental and business reasons.

As we progress towards the future, going green is the only way forward and anything that goes against it will only set us back as a race and not only a nation. At this point in time, the biggest issue is that a lot of businesses and some of the most influential people in the US consider sustainable business models to be an enemy of profit. Not only is this just a misconception, it is the kind of misconception that could propel the nation back instead of pushing it forward at the global stage. Hopefully, as technology progresses further and the profits of becoming a green business become more apparent, such views will change more rapidly.