The Benefits of Becoming a Sustainable Business
If you have been playing around with the idea of becoming a sustainable business, studies prove that being sustainable has great benefits for businesses. Of course, the main goal here is to create a better community and care about our future.
I know it takes a lot of effort and hard work to become sustainable, and sometimes it is easier to forget about it, but I encourage you to keep trying.
Check out 3 (of many) powerful ways that sustainability can benefit your business.
Quick Recap: What is Sustainability?
3 benefits of becoming a sustainable business:
1. Competitive Advantage & Reputation
Consumers are willing to pay a price for sustainability. A study done by the Natural Marketing Institute found that 58% of consumers take into consideration a company’s mission and values when it comes to the environment, before purchasing. People want to believe in an honest, caring, genuine company that does not only care about their profit but wants to do so in a sustainable way. The key is to show your consumers, that on top of getting your great services/products, they are helping the environment. 63% of people under the age of 40 are socially conscious consumers, and 66% think companies should support the environment and are willing to pay more for socially-responsible products/services.
2. Employee Satisfaction & Quality Investments
Most people want to work for and invest in companies with a positive reputation. Your reputation is a huge factor when it comes to decision making. Employees, investors, and consumers will search all about your business before making their final decision. If your business is known for being damaging to the environment and has a negative environmental reputation, they will jump on to the next business. Prioritizing the environment and the future of our communities shows that you care about your employees as well. Studies show that the younger generation specifically, is highly interested in sustainable investing.
3. Reduce Costs
Sustainability not only helps us create a better future, but it allows your business to reduce costs. With a good sustainable strategy, your costs can significantly drop. These practices include determining ways to cut the energy use, understanding energy bills, training employees on proper recycling, using reusable mugs, cutlery and plates, charging appliances during night time instead of daytimes, installing energy efficient light bulbs, using natural lights, taking advantage of sensor lighting, avoiding unnecessary printing and more! There are so many small but powerful ways that your business can become more sustainable. You don’t need to implement the best practices in one day, but slowly and surely a sustainable business is very possible, and highly recommended for your business.
These are great! Right? So what’s stopping businesses?
Sustainable Hamilton Burlington (SHB) conducted a series of focus groups to explore the common challenges and resources that a business needs in order to adopt a sustainable business initiative.
They found that businesses want to…
- Better understand the risks of climate change on their organization
- Support capacity building in leadership and change management
- Have information on what projects and programs can be integrated into business
- Access financial supports to integrate these projects and programs
- Be connected to networks for support, guidance, and recognition
Non-profit corporations like SHB take these insights and provide toolkits that support local businesses in implementing sustainable practices in their everyday workflow.
Walking the Talk:
As Canada’s #1 Chinese and English digital marketing agency located in the GTA, we want to identify ourselves as a sustainable business to help our future and community.
At Noah, we firmly believe in the real value of the triple bottom line, people-planet-profit. Moreover, Noah embodies a diverse group of talents from different cultural and racial backgrounds to ensure all perspectives are discovered and implemented. In 2018, we hired four new employees and we are on track to double the number of employees by the end of 2018. All of our employees enjoy employment benefits, such as extended health care (with mental health in mind), education support, and flexible working hours (including working-from-home days and sick days.)
Noah Digital Marketing joined Sustainable Hamilton Burlington in March 2018. This relationship allows operations with sustainability in mind. Less than two years old, Noah Digital is one of the most sustainable leaders in the Canadian digital marketing industry. We work closely with many local organizations, and startups to improve their performance in every way. We want to be a leader in the industry by showing businesses the power of sustainable marketing, for a sustainable future.
We are currently working on the B-Lab impact Assessment to be certified as a B-Corp soon. This year, Noah has also planned to create low cost, and even pro bono, digital marketing projects for nonprofits and charities. It will allow charitable organizations to take advantage of the power and benefits of digital marketing.