Sustainability is an increasingly important feature of small businesses today. This is not just because all companies have a moral obligation to minimize their negative impact on the environment and society, although this is crucial. Sustainability can also influence the success and growth of small businesses.
This is because consumers are more environmentally savvy, with many making purchasing decisions based on a brand’s commitment to sustainability. This not only impacts individual purchases, but also long-term loyalty. us phone numbers list Sustainability also impacts employee engagement. A recent Deloitte report titled Engaged Employees Demand Climate Action from Leaders found that 27% of employees would consider changing jobs for a more sustainable employer.
Therefore, it is vital to take sustainable actions beyond carbon offset credits. This can include harnessing renewable energy, by purchasing electricity from renewable energy suppliers or using solar panels on your business premises. Circular economy practices – such as reducing waste generation and returning materials to the earth through methods such as composting – are also positive steps. Working with partners in the supply chain to agree on environmentally friendly and ethical practices can also make your company and industry more sustainable overall.
Avoid compliance issues
Even relatively minor errors in your regulatory and legal responsibilities can expose your company to fines from authorities and lawsuits from victims of compliance violations. Therefore, you should take appropriate actions to avoid potential problems. Some general compliance areas that all businesses need to be aware of include the following.
