9 Easy Ways Companies Can Save Money By Going Green
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
As more companies work toward being environmentally friendly, they are also learning that going green is saving them money.
This leaves more money on the table to stash in the business savings account and invest back into the business. Going green comes with many advantages, including tax credits, less clutter around the office, and clarity of the mind to do the most important tasks.
Here are 9 easy ways companies can save money by going green.
Less Paper Product Purchases
One way that a company can begin its “going green” process is to implement the use of a paperless working operation. Cloud networks and scanning necessary documents into cloud systems reduces the amount of paper waste and other small waste items a business has to purchase for printed documents. Switching to a cloud-based option can cut the purchase of copy paper by at least half over the course of a year.
If you are a retail company, consider reusable products like reusable and insulated shopping bags. You can include a company logo and/or motto on the bags to promote the business.
Consumers are more likely to use green options that are given to them or are available for purchase at a minimal cost. Reusable items also prevent additional waste being left in landfills.
Install Water Dispensing Systems
Many businesses offer customers a bottle of water as a courtesy. Not all plastic bottles are recyclable or are not sent for recycling. It is estimated that 25-percent of bottled water is accessed from a municipal water supply.
Essentially, it’s just filtered tap water. So, instead of spending excessive amounts of money on bottled water, install a filtration and dispensing system for use by customers and employees to save money, reduce waste, and help the environment.
Lower Utility Costs
Utility costs are typically thousands of dollars a month for large businesses. You can cut your utility costs by changing out light fixtures to energy-efficient rated fixtures with LED light bulbs. LED light bulbs can last around 20 years, use less energy to work, and provide a purer source of light.
Communities can also benefit from companies going green. YgreneWorks invested $394-million into local communities to create green jobs, improve community emissions and improve overall energy efficiency. Green communities promote green business development.
There are tax credits that businesses can take when they make efforts to improve the local environment starting within the confines of its own walls. Tax credits can be taken for energy efficiency, reduced emissions, solar energy, and a few other green efforts.
Investors are also more likely to put their money into a business that is working on reducing its overhead costs and complying with green standards.
In the long-run, the investor would have a larger return on their investment, making them more likely to invest with your business in the future. The availability of investor dollars is nearly a necessity for business owners to move forward with business expansion and new product development efforts.
Carpooling or using public transportation as a means of getting to work does promote an environmentally-friendly atmosphere.
Companies that provide incentives for carpooling or public transportation usage are promoting green living incentives. These incentives reduce the number of vehicles on the road, improves air-quality, and helps create stronger working relationships among employees.
Landscape around the Property
Landscaping around the business property takes unhealthy carbon dioxide out of the air and replaces it with clean oxygen. Cleaner air means that employees enjoying green space on breaks, are breathing cleaner air, and are returning to their duties refreshed.
This increases productivity and decreases sick days. Office spaces with more greenery on the exterior are also helping filter out some of the toxins from the atmosphere that can trigger allergies or airborne illness.
If you have a cloud network in place, there really is no need for some employees to be in the office all of the time. Technological advancements allow for video conference calls, screen sharing and intermingling between employees efficiently.
The other benefit of allowing employees to telecommute or work-from-home is that they are using their own utilities and equipment, which reduces company utility expenses over time. It is important that employees shut down everything using electricity in their office space the day prior to them working at home to ensure that the space is actually saving the business money.
Going green has many advantages for businesses. In some cases, it can make a brand appear to be revolutionizing its industry with improved green standards, advanced green technology options, and reduced operations costs. Tax incentives are a big reason that companies are going green, but in the end, it also improves the efficiency and productivity of the business overall.