Going Green: Is It Right For Your Business?

Should your business go green?

The answer, in theory, is yes.

There are all kinds of benefits when you make the transition.

• In the long-term, you will make savings. Certain green measures, such as switching your light bulbs and using less paper, are cost-effective. For any business looking to cut down on their overheads, going green is the way to go.

• Your business will garner a positive reputation. Businesses live and die on their reputation, so by doing right by your employees, your customers, and the world at large; positive word will get out about the measures your business has taken.

• You might minimize your taxes. Paying taxes is a necessary evil, but the government offers tax incentives to those businesses who have installed renewable energy systems.

• You will do your bit in protecting the environment.  Going green is about more than protecting your business interests. The biggest reason why you should make the transition is to lower your carbon footprint and protect the interests of the environment, and the people living around you.

Going green, then, should be a no-brainer.

However, for some businesses, the transition isn’t an easy one. So, the question might be:

Is going green right for your business at this present time?

Especially when your business is just starting out, or you have little money to play with, it can be costly to go green. Switching from traditional electricity to wind or solar power, for example, is not going to be cheap.

Then there are the other costs to consider, including the premium that some suppliers charge for green materials, and the cost in replacing eco-unfriendly manufacturing equipment. Sure, there will be savings in the long-term, but if your business is struggling to stay afloat, the cost might be too much to bear. So, what should you do?

If you don’t go green, you might then incur the wrath of both customers and the media alike, and that will affect your bottom line. And if you do go green, you might suffer financially during the transition.

So, we ask again. Is going green right for your business?

The answer, of course, is still yes, but care needs to be taken. If you are financially able, make as many changes as you can. But if you are struggling, you don’t have to go completely green, at least, not until you have the finances to make an overall change. Do what you can, making small changes, such as switching those light bulbs and operating a paperless office, before making those bigger changes to transform your business completely.

To preserve your finances, you might also take advantage of any tax incentives given by the government to offset the costs, and you should shop around different green suppliers to make savings across your business.

And to preserve your reputation, take the examples of bigger businesses who aren’t always able to go green completely, and consider using carbon offsets or carbon credits to showcase your green credentials to your customers and the world at large. You can read more on carbon offset vs carbon credit here.

Finally

As a business owner, you need to instill wisdom. You don’t want to harm the world or lose customer trust, but then again, you don’t want to bankrupt yourself, either. Going green is right for your business, but timing is everything. Make changes where you can, but time them, so you don’t run into financial difficulty.

© New To HR