Ecopreneurship: Tips for Making Your Business More Sustainable

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By Karyn Winrich 22nd September 2022

 

Today, consumers expect a promise of sustainability from businesses, and they want to see action to show a commitment to being eco-friendly. As an entrepreneur, you have the opportunity to build a green business from the ground up. Start by considering these tips.

 

Making Your Supplies More Sustainable

If your business produces a tangible product, you’ll need materials to create and ship it. One way you can be visibly environmentally conscious is to offer sustainable packaging. Some common examples include biodegradable materials, such as packing peanuts and recycled paper and cardboard. You can even try cornstarch packaging. If you’re selling a product with fabric, opt for an organic version. Additionally, you should commit to using the minimum amount of packaging necessary. Large retail stores are often criticized for their overuse of packing materials.

 

Monitoring Energy Usage

Part of reducing your carbon footprint is recognizing your energy usage issues. You can monitor the amount of energy your company uses with a smart meter. Light, heating, and cooling make up the vast majority of energy usage in an office building. You can find ways to reduce that usage by taking advantage of natural light and opening the windows on days with pleasant weather. Simply turning off a light when you leave the room can make a difference.

 

Reducing Your Waste

Reducing waste is the easiest way you can be more sustainable. No business can completely reduce all waste. However, you can be paper-free as much as possible and make an effort to recycle. Provide recycling bins in your office and train staff to recycle effectively. You can even enlist a company to pick up your recycling for you.

 

Seeking Funding for Sustainability

Sustainable materials are sometimes more costly, but starting a business can already be expensive. If you’re concerned about funding, search for capital specifically available to entrepreneurs starting a sustainable company. For example, the government offers grants to businesses practicing environmentally friendly commerce. African American-owned startups have access to funding from the Coalition to Back Black Businesses, the National Association for Self-Employed, and the Minority Business Development Agency.

 

Marketing Your Green Business

One significant advantage of going green in business is that you can use that as a marketing strategy. Consumers are becoming more conscious about their carbon footprints, and you can make them feel like they are contributing to a solution by shopping with your business. Research shows that consumers are looking for companies that better reflect their personal concerns about the growing issues with the environment. Your marketing strategy should be consumer-oriented, meaning you must look at the world from the consumer’s point of view.

 

Staying Organized for Productivity

Being eco-friendly can also help you create a more organized office space. For example, you can create an entirely paper-free office. Start by digitizing your files. Not only is it more environmentally friendly but it’s also more sensible. Convert files to PDF so you can download them to your iPhone and other devices. You save paper and have access to your files wherever you go. You also don’t have to worry about having access to Wi-Fi to see them.

 

With a strong sustainability policy and evidence of being actively eco-friendly, your business will make a great impression on customers. By staying organized and continuing your green education, you’ll see great success. Just remember to be flexible and listen to the experts.

SAVING TIPS 2020

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Saving isn’t as hard as it seems. If you’re looking for some smart savings guidance, these money saving tips should help you start to build up a handy nest egg.

· Create a budget by adding up your monthly spend on essentials like rent, utility bills, food shopping and car costs, to see if you have any spare money that could be moved into a savings account

· Start saving with a basic savings account. Saving even a small amount will give you peace of mind and get you into the savings habit

· If you have more money available, consider a higher-interest account or invest in an ISA. If you already have an ISA, maximise your allowance for this year

· Start long-term savings as soon as you can. Speak to your employer about possible pension schemes to join

· If you get a windfall of money, think about putting a percentage of it into your savings.

MAKE SAVING MONEY A HABIT

Saving money doesn’t have to be a chore. There are some easy ways you can get into the habit of saving money on a regular basis.

With a standing order, you tell your bank to pay money from your chosen account to another account at regular intervals – for example, once a month. If you’ve taken the time to work out how much you can save each month, make sure the money leaves your current account straight after you get paid. This way, there’s no temptation to spend the money you plan to save.

Some banks now offer you the ability to round up the amount you spend on your debit card to the nearest pound and transfer the difference into your eligible savings account. This is a painless way to start adding to a savings account

GET SMARTER WITH YOUR BILLS

· Are you using all your minutes on your current mobile phone deal? If not, see when your contract expires and get ready to switch to a cheaper one.

· And what about utility bills? Could you pay less for electricity and gas? What about home or car insurance? Some financial comparison websites have tools that let you work out if you could find a cheaper deal. Less spent on bills, leaves more to save.

· Some companies offer discounted rates when you pay by direct debit.

· Many companies (e.g. mobile phone companies, broadband providers, etc) offer short-term bonuses or incentives. Just make sure you know when these run out so you can check you’re getting the best deal.