You are probably aware that there are numerous benefits of going green in your business model. However, you might be curious whether starting a green business is actually a safer investment compared to the typical company. This is what we’re going to explore today and the answer might just surprise you.
Let’s Talk Green Business:
Benefit From Reduced Costs
To understand whether a green business is a safer investment, your first step should be to consider one of the most common reasons why businesses fail. The answer, we think, is obvious. New business cost a lot to set up and quickly end up in the red.
One of the key benefits of a green company is that the costs could be greatly reduced with government grants, green funding and financial incentives being more readily available. Plus you may be able to cut costs by setting up your company to run on renewable energy, for instance, you might want to consider investing in solar energy. Solar panels will pay for themselves in just a few years and ensure that you are on the right track with your business from day one.
Earn Customer Loyalty
Another clear benefit of this type of business is that it will earn you loyalty from your consumers. Remember, you’ll be giving your customers something that they want. They will know that you are going to do your part to save the planet. This means that they are more likely to reward you with repeat purchases of your products and services. Indeed, in recent polls, many consumers have noted that they are more likely to buy from a business that is green.
Of course, a green business won’t make you less susceptible to all issues and dangers that your model can face. You will still require business insurance which you can learn more about here. However, since you are more likely to have a loyal customer base, you should be able to weather most storms, both literal and metaphorical. You might find that consumers even stand by your business during a rough economic situation such as a recession. This isn’t a benefit that most businesses will be able to claim so it does give you the upper hand against the competition.
Wouldn’t we all benefit from living in societies that were more careful, more resourceful, more respectful and more forward-thinking?– Jane Davidson, University of Wales Trinity Saint David
Future-Proof Your Company
Is it possible that we’ll see a future where companies that aren’t green are going to be hit harder in terms of taxation and other business bills? This has already started to happen in certain companies. Governments are pushing business owners to be greener and it’s not hard to see which way the wind is facing. Even if your business is safe right now, there’s no guarantee that it will be in the same strong position ten or even twenty years down the line. If you want to ensure that longevity of your business model, going green is the greatest option.
We hope you see now that starting a green business could definitely be a safer option. As well as perfectly positioning your company for the future, you will be reducing the costs in your model and ensuring that clients are more likely to stick by you through thick and thin.
The sustainability revolution will, hopefully, be the third major social and economic turning point in human history, following the Neolithic Revolution – moving from hunter-gathering to farming – and the Industrial Revolution.– HRH Prince Charles
Photography by Annie Spratt.