How Going Green Can Help Save Your Business Money

Author: George Myers, Sr. Business Development Officer 10/26/2022

A common misconception about sustainable practices is that they are always costly for businesses. But did you know that making your business greener can actually save you some “green”? That’s right, there are many ways to make your business more sustainable that will save you money in the long run. If cutting costs and helping the environment sounds like a win-win to you, here are some ways to start going green in your business.

Use Less Paper Products

Your business likely goes through dozens of reams of paper in a year, if not more. Consider upgrading your Point of Sale system to give customers the option of receiving their receipt via email or text. Hit ‘Send’ instead of ‘Print’ when issuing notices, like invoices or statements, to clients and customers. Take advantage of software that enables your employees to work and collaborate on the computer rather than on paper.

Take a Break from Plastic and Styrofoam

The break room is a great place to implement green practices. Switch out cases of plastic water bottles for a water dispenser, and encourage your employees to bring reusable water bottles to work. Refilling the water tank will cost less than buying several cases of water bottles every week. Change the cups at the coffee station to paper instead of Styrofoam. You can offer incentives for your employees to recycle their empty coffee cups or even better, bring their favorite mug from home.

Cut Utility Costs with Energy-Efficient Lights

If your employees are back in the office, your electricity costs have likely gone up. Consider switching to energy-efficient lights in your building. Installing timers or motion detectors to your office lighting will ensure that the lights only stay on when a room is occupied. There might be an upfront installation cost, but the money you will save on your yearly energy bill can make up for it.

Tax Credits for Going Green

To encourage sustainable business practices, the government has implemented several tax breaks for green businesses. If you decide to invest in alternative energy for your commercial building, you can deduct a fraction of the costs. Switching to more energy-efficient utilities like lighting, water, and heating could qualify you for tax credits. If your business uses commercial vehicles, there are tax advantages for purchasing electric vehicles or using environmentally conscious diesel. Be sure to consult your tax consultant about tax benefits for your state and specific industry.

Incentivize Carpool and Public Transportation

Going back to the office means more costs for employees as well. Maybe your business adopted a hybrid system with employees working both remote and in-office. Some businesses are incentivizing employees to choose office over remote work by covering some of their fuel costs. You might want a more affordable and more sustainable system for your business. Introduce ‘carpool holidays’ to the company calendar or offer bus and train passes at a discounted price. By incentivizing employees to carpool or use public transportation, you will decrease overall carbon emissions as a company.

Going green looks different for every business. The key is to find alternatives and sustainable practices that fit your company and appeal to your employees. There are many ways to save on costs while working toward sustainability, and consumers are becoming increasingly interested in companies that use sustainable practices. Once you begin looking into the many options available, you’ll likely find just how beneficial it can be to go green as a business.

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