5 Reasons Why Small Businesses Should Care about Sustainability
There are many reasons why small businesses should care about sustainability, but here are the top five:
1. Because sooner or later every business will have to pay attention to sustainability in order to stay in business.
The pressure on companies to disclose how they are addressing environmental issues continues to escalate. The demands are coming from governments, consumers, employees and customers. Large businesses have felt the heat already.
2. Because your company can obtain more business through commitments to sustainability.
To become eligible to get on or stay on a suppliers list, the vendor companies must submit data concerning their sustainability policies and practices.
3. Because you can save on your bottom line.
Most experts forecast that energy prices will continue to rise annually. And increasing energy prices have been the greatest source adding to the cost increases in small and mid-sized businesses over the past few years. The Environmental Protection Agency’s (EPA) Energy Star for Small Business says that companies can increase their energy efficiencies by 10 to 30 percent through facility operation, maintenance and use of cost-effective technologies.
4. Because you can add to your top line through innovation.
In a recent panel discussion sponsored by SAP, a leading provider of business software, Peter Graf, SAP’s Chief Sustainability Officer asserted that sustainability is driving innovation worldwide. Graf contends that it takes companies working together to achieve the greatest successes in this sustainability space.
5. Attract, retain and engage talent.
Small business leaders who are concerned about attracting and retaining talent should take a look at what younger workers are looking for in the workplace. More than two-thirds of Generation Y workers (those born after 1989) say that they want their employers to be environmentally friendly. And, in fact, a third of all workers said that they would be willing to sacrifice salary to work an environmentally friendly firm.