Nowadays, many businesses are looking for creative ways to cut costs and preserve profits. As a bonus, some profit-enhancement initiatives can also be good for the environment. Here are some eco-friendly moves that may enable your business to cut costs — as well as build revenue and long-term value.
Cost-cutting measures
The most obvious way going green can save money is through reduced consumption of water, electricity and gas. Many utility providers will provide free audits of your company’s consumption. In the process, you may learn simple, but not necessarily obvious, steps to save resources. For example, did you know that allowing electronic equipment to rest overnight in “standby” mode can add 10% to its energy consumption? You can lower consumption and your energy bill simply by powering down electronic equipment completely at the end of the workday. Examples of other green business practices include:- Minimizing single-use items, such as disposable coffee cups, paper bathroom hand towels, plastic water bottles sold in vending machines and single-serve coffee pods,
- Choosing paper products over plastic alternatives,
- Providing recycling bins and discounts to customers who bring in reusable bags,
- Using electronic methods for communication and data storage,
- Maintaining work-from-home options for employees to cut commutes,
- Providing financial incentives to employees who commute using public transit,
- Donating unneeded office equipment and furniture, instead of sending them to a landfill,
- Installing water-saving faucets and toilets,
- Shipping products using full truckloads (rather than partial truckloads), whenever possible, and
- Selecting suppliers that share your commitment to sustainable business practices.
