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Growth Strategies

How Going Green Can Grow Your Business

How Going Green Can Grow Your Business
Image credit: Shutterstock
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Is your company stagnating? Results not going as well as you want them to?

Believe it or not, the answer could be in going green. Rather than focusing on your product or sales, you may be able to gain some much needed traction by implementing green policies and concentrating on environmental issues. And this can apply to any company in any industry.

Let’s break down how that can happen.

Positive mentions and word of mouth

There’s a reason why every company that cares for the environment is being talked about. Business reputation and positive word of mouth is everything in a market dominated by social media. Your business’s commitment to green issues positions you as a company with a soul.

You can also choose to simply donate to green causes. However, customers these days want companies to actually donate their time and expertise, as opposed to just writing out a huge check.

Saving Money

One way of turning your company around is to reduce your spending. Going green is a way to cut costs on energy bills, and use recycled stuff which can be cheaper and better.

Improve the Health of Your Workplace

Many employers don’t take into account how much money they lose every year as a result of workers being sick.

Studies have shown that companies that concentrate on green issues have fewer employees calling in sick. They pay out less money in medical benefits and they have to worry less about hiring temporary workers to pick up the slack.

“You can create a healthier workplace by implementing a few key policies,” says Dave Clark, CEO of SodGod, which specializes in growing and installing sod. “For example, you may decide to make organic food available in the cafeteria. You may also decide to grow sod which improves cooling and air quality.”

Nurturing a bunch of indoor plants like peace lilies can filter out harmful substances from the air.

It’s also true that adopting green policies can also help staff do the same at home. It’s why so many companies are focusing on employee wellness because it really works.

Think about Tax Credits

Governments around the world are determined to encourage businesses to buy into their green philosophies. It’s why there are tax credits available for adopting various green policies. Tax credits are simply reductions on the amount you have to pay to the government, which is extra money straight into your organization’s bank account.

The most common type of tax credit is for renewable energy. For example, you may decide to install solar panels on the roof of your workplace. The energy generated is pumped into the local grid and the government pays you for every unit of electricity generated.

Consumers Want You To

With millennials growing in prominence, and making up the bulk of the workforce, they are becoming more conscious about the state of the world they live in today. Consumers are actively sticking with companies that have a positive effect on the world, even if it means they have to pay more for the same product.

Conclusion

Catering to your environment and going green can make your team happy, healthy, and productive. It doesn’t have to be expensive. The benefits are magnificent. So now is the time to do it. Will you be turning your business green today?

Edition: December 2016

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