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Tips for Sustainable Businesses That Point the Way Forward

Mar 30, 2022Corporate social responsibility, Digital Strategy Consulting

The focus on sustainable living and sustainable businesses are hard to ignore nowadays. Furthermore, the catastrophic effects of climate change are plain to see. This is why building a green business is so vital. If you’ve been thinking about starting a business, consider applying these tips (presented below by Unidigital) to build a sustainable model.

Where to start?

While green businesses are certainly more commonplace these days, it may still be challenging to find a business type with your same ethos. However, you don’t have to look far. In fact, your next green opportunity could be right under your nose if you look closely enough. All it takes is seeing how you can enhance ordinary businesses through eco-friendly lenses to see where opportunity lies.

Plan in advance

When building a sustainable green business, you’ll need a clear-set plan from the beginning. After all, your mission statement will not only have to be specific but ‘green’ specific at that. Moreover, you’ll want to do the necessary research beforehand to determine the feasibility of your business, while also bearing in mind the high failure rates of new businesses within the first five years. So be sure to do your market research and feasibility studies beforehand.

Obtaining startup capital

Starting a green business will probably mean obtaining additional funding in the beginning because you won’t be going about things in the usual way. Through diligent research, you are certain to find passionate investors or venture capitalists like you who may be willing to invest much-needed startup capital in the beginning. However, you may need to take a business loan with a lender, which means you’ll need to take a good, hard look at your finances. To ensure you can get the loan you need to successfully launch your green business, take a look at your debt-to-income ratio. If things are looking a little grim, take steps to improve your credit before moving forward.

Going green all the way

Building a sustainable green business will require going green all the way from the paper you use to your recycling efforts to energy consumption to how you can reduce your digital carbon footprint. There are different areas to focus on waste reduction depending on whether you are a manufacturing business or a service provider.

You could bypass the issue of paper altogether and choose to go the paperless route instead. For example, use emails instead of letterheads, and save import information on a hard drive instead of in archives.

Stay on top of eco trends

Of course, when it comes to innovative and more eco-conscious ways of doing things, this is ever-evolving. Not only will staying on top of eco trends benefit your green business overall, but it will also help to cement your credibility with the public in this area.

Marketing your green business

As far as marketing your business goes, it’s a good idea to incorporate green aspects into your marketing strategy too, from your logo to building a community around your mission to having a transparent sustainability policy.

Inspiring ecopreneurs to help get your journey started

If you need a bit of inspiration and encouragement to see how successful a ‘green’ business can be, just look at these entrepreneurs who are making a tangible difference in the world.

Building a green business is going to come with some challenges. However, it’ll be worth it, seeing your passion come to life knowing that you’re doing good for the environment whilst also building a successful business undertaking in the process.

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