It's no secret the world is facing some big environmental challenges. From climate change to plastic pollution, it's more important than ever for businesses to do their part to protect the planet. But what about your company’s bottom line? Can sustainable businesses still be profitable? Absolutely! Sustainable practices can actually save your business money while helping the environment. Below, the New Jersey Pride Chamber of Commerce offers some great guidance on how to get started. 

How Sustainability Affects Your Bottom Line

There are numerous ways sustainability can save your business money. For example, energy-efficient lighting and appliances can reduce your utility bills, while recycling and composting can cut down on waste disposal costs. Implementing sustainable practices can also help you attract and retain customers and employees who are looking to support eco-friendly businesses. In other words, being sustainable is good for business — and your bottom line!

Identify Sustainable Opportunities

Every business is different, so there's no one-size-fits-all approach to sustainability. The best place to start is by conducting a sustainability audit of your business operations. This will help you identify areas where you can implement more efficient and eco-friendly practices. Once you know where you can make changes, it's time to get creative! There are plenty of opportunities to be sustainable, even if you're not in a traditionally "green" industry.

For example, if you run a software company, you can switch to paperless billing 

and allow employees to work from home one day per week to reduce their carbon footprint. If you own a restaurant, you could start composting food waste or switch to reusable plates and silverware. And if you're in the retail business, you could ditch plastic bags in favor of reusable shopping bags or promote online shopping over in-store shopping. The possibilities are endless!

Start Reducing Paper Waste

One simple way to make your business more sustainable is to switch from paper to digital documents. Not only will this save trees, but it will also save you money on paper, ink, and postage. You can also take it a step further by converting paper files to PDFs. This preferred format is much easier to share thanks to smaller file sizes, and you could use this tool to merge multiple files or subtract pages from PDF files when you try to condense documents, photos, or graphics. PDFs are also great because they are searchable and can be accessed from anywhere.

LLC: The Sustainable Business Structure

An LLC, or limited liability company, is a business structure that offers its owners limited personal liability for the debts and obligations of the business. LLCs are popular among sustainable businesses for several reasons. First, LLCs can have unlimited numbers of shareholders, making them well-suited for businesses with multiple investors. Second, LLCs are not subject to the same double taxation as C corporations, meaning that sustainable businesses can keep more of their profits. Finally, LLCs offer flexibility in how they are managed, giving sustainable businesses the ability to tailor their management structure to fit their specific needs.

Get the Word Out

It's not enough to simply be sustainable — you also need to let your customers know about your eco-friendly practices. Why? Because according to a study conducted by the Business of Sustainability Index, 66% of global consumers say they would pay more for products and services from companies that are committed to positive social and environmental impact. Make sure you're promoting your efforts on social media, on your website, and in any marketing materials you create. 

Make the Sustainable Choice

As we face growing environmental challenges as a society, it's more important than ever for businesses to do their part to protect the planet. But being sustainable isn't just good for the environment — it's good for business too! Sustainability can save your company money while attracting and retaining customers who want to support eco-friendly businesses. Making even small changes like switching from paper documents to digital documents or using reusable shopping bags instead of plastic bags can make a big difference — not just for the planet, but also for your bottom line.

The New Jersey Pride Chamber of Commerce offers many resources to local business owners. Check out our site for more information today!