Can Going ‘Green’ Save Me Money?

Many small businesses have taken the initiative and developed a ‘green’ strategy that is not only helping them to reduce their costs but is also providing them with a marketable competitive advantage.

For those businesses that are yet to act the thought of spending time and money on ‘greening’ their business when there is no compulsion means they are missing out on significant cost savings right now!

With the possibility of a carbon tax looming and rising energy prices on the back of strong overseas demand for coal & gas, plus increased domestic spending on infrastructure due to population growth, it makes good business sense to insulate your business against future energy price rises.

Energy is just one area where small businesses can make significant cost savings. As part of a balanced ‘green’ strategy, businesses should look at the areas such as: Recycling; Water; Purchasing; Commitment; Paper and Transport.

Going ‘green’ isn’t just about reducing your impact on the environment or cutting costs, being ‘green’ can also help increase sales and attract the right staff.

As more and more people choose to deal exclusively with businesses with proven green credentials this provides a competitive advantage that will benefit the early adopters. At the same time creating a sustainable environment can have a positive effect on your staff and even help attract quality staff in the future.

Here are 10 things your small business could do easily do now to reduce costs:

  1. Switch off all lights when not in use (especially at night, weekends, holidays)
  2. Turn off all IT equipment and other electrical appliances when not in use
  3. Make sure all electrical items are switched off at the power point when not in use for extended periods
  4. Disable screen savers as they often use more energy than less
  5. Make sure the heating and cooling are not set too hot or too cold
  6. Walk, ride a bike, car pool or take public transport to work
  7. Teleconference rather than make unnecessary trips
  8. Recycle everything you can
  9. Strive to operate a paperless office
  10. Install a water filter instead of purchasing bottled water.

Hint: Once you have adopted a ‘green’ policy you need to market your credentials. Inform your customers and suppliers and make it obvious to potential customers that you are different from your competitors. Being the world’s best kept ‘green’ secret will help reduce costs but will not help you generate sales and attract great new customers or staff.

If you are interested in sustainable accreditation for your business then visit wattsprice.greenbizcheck.com to start your journey today!

 

Richard Kemp – Watts Price Accountants
E: richardk@wattsprice.com.au

The advice provided on this Article is general advice only. It has been prepared without taking into account your objectives, financial situation or needs.