Sustainable Practices Are Good for Business

Business sustainability is measured in terms of the triple bottom line, or 3Ps: people, planet, and profits. This recognizes that business owners must balance social equity, environmental concerns, and financial growth to succeed.

As someone considering a new business venture, you might wonder whether environmental and social interests should play a part in your thinking and planning. Would it not be better to concentrate on making as much profit as possible? The evidence shows that being a good corporate citizen can contribute significantly to profitability, and that’s something Bishops strives to do with Green Circle Salon recognition.

The Benefits of Sustainable Business Practices

Businesses benefit in several ways by exhibiting a social and environmental conscience. These can include:

Improved brand image. The buying public has embraced sustainability and expects the same of the companies supplying their goods and services.
Reduced costs. Energy-efficient lighting, heating, equipment, and processes save money.
Increased employee satisfaction. When employees feel respected, valued, and good about where they work, the result is increased productivity and staff retention.
Greater investor approval. Investors are increasingly unlikely to back businesses with poor corporate social responsibility records.
Better compliance. Embracing sustainable practices will reduce the chances of running afoul of increasing Government requirements.

For small business owners, adopting sustainability should not impose a financial burden. Simple decisions, such as using recycled materials, the design of office lighting, limiting product waste, and reducing the amount of printed material distributed can positively impact the environment and the balance sheet. Socially responsible behavior toward employees and customers also brings financial rewards. Governments, including the US, provide tax incentives and other benefits for sustainable enterprise.

Years ago, there was a perception among CEOs and company directors that shareholders frown upon wasting their money on “frivolous” things like the environment and employee comfort. That’s no longer the case. Many of the giants in the corporate world are enthusiastically embracing reduce/reuse/recycle where they can and language of inclusivity, something that Bishops has been on the front lines of for two decades.

It Starts With a Plan

Hopefully, you’ve concluded that embracing sustainability is a great business decision. If you want to do it successfully, it pays to have a plan.

Learn about sustainability
Assess areas of improvement
Find opportunities
Create a vision
Implement changes

The Environmental Protection Agency has an information sheet pointing to many valuable resources to help you on the way.

The Results Will Be Worth the Effort

When you’re ready to proudly present your sustainable products or services to an appreciative public, the rewards will be more than just financial.