NerdWallet: Making your small business more sustainable can pay off—here are 3 ways to get started

by | Dec 23, 2022 | Stock Market

This article is reprinted by permission from NerdWallet.  Focusing on your small business’s sustainability isn’t just good for the environment — it can also benefit your bottom line. Thirty-two percent of consumers are willing to pay more for sustainable goods and 66% rank sustainability as one of their top five drivers behind a purchasing decision, according to the 2022 Sustainability Study from Simon-Kucher & Partners, a global consultancy firm.

While investing in sustainability may seem out of reach for some business owners, it doesn’t have to be. Learn how to decrease your ecological footprint — and even save money — with these three tips.1. Reduce your energy consumption One of the easiest ways to improve your business’s sustainability is to reduce your energy consumption, says Casey Donahue, founder of Optiwatt, a tech company that helps electric-vehicle owners lower electricity costs. You can make simple changes such as opening windows for light and ventilation or changing the time the power goes on and off. You can also remind employees to be mindful of their energy usage and encourage remote work, if possible. Investing in smart, energy-efficient technology such as thermostats, heaters, refrigerators or lightbulbs is a fantastic way to reduce your energy consumption, Donahue says. Some utility companies offer rebates for businesses that use or upgrade to these types of equipment, he adds. Salt River Project, for example, a not-for-profit company that provides power and water in Arizona, offers rebates up to $300,000 for business customers that use energy-efficient lighting, heating, ventilation and air-conditioning systems, and data centers. Some companies will analyze your energy usage and identify areas for improvement. Energy Hippo, for instance, offers software that collects billing …

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