COVID-19 changed consumer buying habits. Not only are they shopping online, but they’ve shifted their priorities. About half of all consumers around the world say that they’re more environmentally aware than before the pandemic.
The number of intense storms, heatwaves, and wildfires also make consumers evaluate their choices. Many businesses are responding by adopting green business practices.
Does jumping on the eco-friendly business bandwagon make sense for your business? There are several benefits of having an environmentally friendly business. Keep reading to learn what they are.
1. Cost Savings
The most obvious benefit of going green is the cost savings. You’ll notice lower energy costs when you do simple things, like a switch to eco-friendly light bulbs.
Your employees will turn off lights and devices that consume power during off-hours. You’ll reduce operations costs by switching from paper to digital documents.
These items might seem minor, but they have a significant impact over time.
2. Innovate More
The most interesting thing about having an environmentally friendly business is that it forces everyone to do things differently. That causes everyone in your organization to come up with new ideas to replace the old behaviors.
In the end, you have more efficient processes, which means productivity increases.
3. Rebates and Tax Credits
Federal and state governments have huge incentives for businesses to adopt environmentally friendly practices. You can receive a tax credit for as much as 22% of the cost to install solar panels.
Even if you work from home, you can receive a residential credit for solar panels. That doesn’t include state and local grants, that’s just on your federal taxes.
There are plenty of tax credits that encourage you to use alternative fuels, invest in energy-efficient buildings, and reduce pollution.
4. Stronger Brand Perception
Perception is everything in business. If people think something about your business, positive or negative, it’s seen as the truth.
You can strengthen your brand’s perception by showing that you’re a green business. You might have sustainable policies on your website or get LEED and other green certifications.
5. Attract Better Employees
Your business is only as strong as your employees. You want to make sure that you are in a position to attract and keep the best employees.
Employees like to work for companies that have a purpose and are aligned with their values. A green business shows that you care about the planet and you give meaning to work.
Employees are happier, more engaged, and more productive. They’ll stay longer at your company because they feel like they’re making a contribution to the greater good.
An Eco-Friendly Business Is a Good Business
If you want to do your part to make the world better, it makes perfect sense to have an eco-friendly business. Not only do you get to make a difference, but there are tangible business benefits, too.
You’ll save money and attract better customers and employees. Your business will become more profitable over time.
For more marketing insights, be sure to read the other great articles on the blog.
