Australian businesses should be doing more to become sustainable, such is the conclusion of the HP Australia Environmental Sustainability Study 2018. According to this piece of research, over 71% of consumers are ready to pay more for products that come from eco-friendly businesses. This is one of the reasons why going green can be the key to your startup success. The Guardian started reporting the profitability of environmentally-friendly businesses back in 2013. And as the ecological situation keeps getting worse while the public’s awareness of it increases, the benefits for the ‘green’ business increase as well.
Benefits of Going Green for a Small Business Startup in Australia
You get a great perk to market
Running a sustainable business gives you a huge marketing advantage because you sell not merely products/services. A ‘green’ business offers consumers a chance to make a contribution to the betterment of the planet. This addition to your value proposition can result in an instant boost in sales.
To reap the benefits of it, you have to include the sustainability angle in your ads. Do not merely mention that your business is eco-friendly. You should show prospective buyers how buying from you will allow them to contribute to positive environmental changes. For example, you can sign up your business to contribute a part of the profits to some ecological organization. Do this on top of making your company ‘green’ and show every buyer that a part of their money is going to support a relevant environmental cause.
Provide solid proof and be sure to post about achievements of the eco-organizations you support on your social media channels. Make your customers feel involved in the cause so they can appreciate their personal contribution more.
You get to save some money
Establishing ‘green’ business practices as well as making your office, factory, etc. eco-friendly can cost quite a bit. However, you can use a variety of free government grants for small business start up to finance such procedures. Some of them are given specifically for sustainability improvements, but you can use many other financing options to fund the same goals.
This means that you can cut the initial cost of eco-friendly upgrades so you get to enjoy the money-saving benefits right away. Going green means using your resources more efficiently. This includes cutting your energy and water bills due to the implementation of sustainable practices. You should also find similar ways to cut costs of materials and production by choosing more eco-friendly supplies.
Don’t forget that the Australian government is very supportive of sustainable business initiatives. You can get a variety of tax breaks and other perks for using ‘green’ practices and energy sources. It’s this support as well as the acute involvement of the local population that helped Australia to achieve great things on the road to sustainability. Some of the best examples are Australian green buildings and water saving success after the Millennium Drought.
You build a good name for your brand
If you position yourself as an environmentally-aware business that wants to go the extra mile for sustainability, you instantly gain authority. This means your brand will be respected not only for the quality of your products/services. You will also be able to get positive PR or your eco-friendly practices.
This status will allow you to not only attract more customers but also make a good impression on prospective business partners. You should use this chance to build relationships with bigger companies that want to become more sustainable.