3 Sustainable Solutions To Improve Your Business
26 July 2018
How To Improve Your Business Utilizing Sustainable Solutions
In 2012, the European Commission announced that SMEs were responsible for almost 64% of pollution in Europe. Whether your business is a start-up or an established company, following sustainable solutions will be extremely beneficial for your business. Below are the three R’s we recommend that every business should follow to minimize your carbon footprint and maximize your profits.
The mindset that businesses are too small to make a difference is problematic – as waste products regularly disposed by businesses such as paper, plastic bottles and electronic waste products are some of the most common items sent to landfill – despite being the easiest to recycle.
Many governments all over the world run schemes to promote the eco-friendliness of businesses, especially within the European Union. Capital grants are offered to businesses for introducing energy efficient modifications and recycling schemes to their businesses, and assistance can also be provided for consultancy fees related to emission reductions.
Reducing your company’s emission output can greatly improve its efficiency. The carbon dioxide emissions created from travelling or flying to meetings are detrimental to the environment. Video conferencing is an efficient and underused method to solve this issue if the meeting can be done remotely.
Cycling schemes are another innovative idea to reduce the carbon footprint of your office. The UK’s Cycle to Work scheme gives business owners the opportunity to loan bicycles to their staff for a percentage of their salary. Carpooling is another productive and cost efficient method to make sure your employees make it to the office on-time and without damaging too much of the ozone layer.
Review The Total Amount of Funding You Secured
Businesses must be forward-thinking and constantly review the impact of their funding efforts and monitor how efficiently they are utilizing their capital for growth. Managing and preventing potential risks and consistently finding new solutions to implement and innovate is necessary. In addition, actively seeking for more opportunities to secure additional amounts of funding is also considered a good practice – if you are actively seeking for investors and need help, read more about series A financing here.
The role of sustainability in risk management is not a concerning factor to many, as seen with Deloitte’s survey on 300 major companies around the world on risk management. Reputation risk was cited as the area of highest concern and sustainability was not featured on the list. Sustainability concerns are not seen as a threat to disrupt business models, with their attention more directed towards change, including social media, big data, mobile, cloud, and cyber security.
About Our Guidance In Terms of Raising Capital
Challenge Advisory offers help to startups and medium-sized business owners to breakthrough their financial barriers by helping them find investors and securing more funding in order to launch their business to the next level. If you are someone who is interested in securing financing, such as Series A Funding, you will definitely want to see our approach on raising series A capital to help you get a better picture how we can help you.