The Benefits of Going Green with Your Business

An assortment of biodegradable restaurant packaging including cups, straws, boxes, and bags.Going green is not just a passing trend; it’s necessary to achieve widespread environmental sustainability. Powering your business through renewable energy sources and other eco-friendly means of operation not only gains the admiration of your customers but also creates a safer and less costly work environment. Fueling your business with these environmentally conscious practices is a recipe for success in this current social climate. To truly understand the value, let’s review some of the benefits of going green with your business.

How Your Business Can Benefit from Eco-Friendly Solutions

We’re all well aware that going green greatly reduces pollution, thereby preserving our environment, but the benefits extend to your business, as well. Not only are you fulfilling your social responsibility and motivating your team, but you’re also helping your business in the following ways:

  • Going Paperless: Technology is capable of achieving nearly all documentation requirements. Save money on paper products and time and space by moving all information to the cloud.
  • Replacing Light Bulbs: Replace your lighting with CFL or LED bulbs. You’ll initially pay more for these lights than incandescent bulbs, but over time, you’ll make more than your money back in energy savings.
  • Creating a Healthier Workplace: Move away from chemical-based cleaning products to eco-friendly alternatives to avoid staff exposure to carcinogens and harmful toxins.

Going green will also help decrease the likelihood of a workers compensation or disability insurance claim by reducing the chance of employees becoming injured or sick from the use of unsafe chemicals.

Attract More Customers by Going Green

Beyond fulfilling your environmental obligations as a business, you should also not lose sight of one of the most important goals of any business: attracting customers. The concern for the environment is growing amongst all generations, most significantly Millennials and Gen Z, who now outnumber their predecessors. Instead of using foam containers at your restaurant, switch to recyclable containers, or offer the option for paperless receipts. Showcasing your business’s commitment to going green on social media and other marketing avenues will earn you loyalty amongst your consumers.

How Going Green Saves You Money

The misconception is that going green will be costly for your business, but the reality is that you’ll earn recognition from investors and save in recurring costs. If your business is in the market for investors, you’re more likely to attract backers when they see you’re making a conscious effort to maintain your reputation and keep fixed costs down. If you plan to invest in more extensive changes, such as transitioning into renewable energy, there are tax incentives granted by the government to reimburse your green efforts.

Prepare for Climate Change Risks with Insurance

Everyone must do their part to preserve the environment, but with escalating climate change risks, there’s a higher probability of severe weather disrupting your business’s operations or the lives of your employees. Purchasing a business interruption policy – especially if you’re located in a region already known for unpredictable weather – will replace your lost income, operating expenses, and so forth in the event of a fire or natural disaster. Also, you should ensure you have a good workers compensation program in case your workers are affected by harsh environmental working conditions.

The benefits of going green with your business cannot be understated, as it has a profound impact on your operations and the climate. Employing eco-friendly measures will gain loyalty from your team and your consumers and will set a great example for your competitors. Of course, you also want to invest in insurance to help manage any adverse impacts of climate change. At TJ Woods Insurance, we can pair you with the appropriate business insurance policies to ensure you’re covered from every angle. If you’re seeking help protecting your business from natural disasters, contact us today.