More than 90% of CEOs say sustainability is fundamental for business success. There are many different ways businesses can become sustainable startups, too!
For example, you can develop sustainable products and services. You might decide on changing your office space for eco-friendly practices. You can also create a position in your office such as a Chief Sustainability Officer who is responsible for pushing these efforts.
“Being green” is no longer a trend so much as an expectation. Why are so many companies focusing on green business ideas, though?
Keep reading to discover the five benefits of becoming a sustainable startup to find out.
1. Employee Health
Like attracts like. If you’re trying to attract new talent to your business, keep sustainable business ideas in mind. Sustainable startups are more likely to attract employees with similar values.
Why? For starters, an eco-friendly business will keep its employees healthy.
Try offering healthy snack options and foods that are created through green production methods. These green business ideas will keep your employees happy and healthy. At the same time, you’re also reducing sick days, which can improve your company’s productivity.
2. It Matters to Customers
According to this study, 66% of customers are willing to pay extra for sustainable offerings. Today, more companies are checking the label before you choose to purchase a product. They also want to know how their products are produced before making the decision to spend money.
Consider having your products created using eco-friendly practices. Are the materials recyclable?
For many consumers, green business practices are becoming a deciding factor before they buy from a business.
If you decide to go green, let your customers know. Create a blog post for your website, post about it on social media, and advertise your efforts as much as possible. Sustainable startups can leverage their environmental commitment to generate brand awareness and loyalty.
Show your customers that you’re taking the strides your competitors aren’t.
3. Business Opportunities
Environmentally-friendly companies can also discover new business opportunities. For example, sustainability is a popular practice emphasized by government entities. If your company depends on federal, state, or local government contracts, your sustainability efforts could help.
Becoming a sustainable startup will allow you to reach a wider, more lucrative market.
More government procurement policies require governments to use contractors who provide environmentally-conscious services. This is another chance for you to get ahead of the competition.
Consider researching the US General Service Administration’s Green Procurement Compilation. This research can help you determine how your company can meet the federal guidelines for eco-friendly products and services.
4. Tax Incentives
In addition to expanding your customer base, the federal government also offers significant incentives to environmentally-friendly companies. In fact, the EPA requires manufacturers to follow specific regulations to prevent pollution. If you follow these practices, you could receive significant state and federal tax incentives.
Sustainable Startups: 4 Reasons Every Startup Should Go Green
Sustainable startups aren’t following a trend; they’re becoming an expectation. By taking the sustainable route, you can help your company enjoy these advantages and more!
Explore the other posts on our blog for more helpful startup tips!