Many business owners resent the restrictions that environmental regulations place on them. They complain that these regulations make running a business more complicated and eat into their profits.
Even if you are not convinced about the health benefits and long-term benefits for humanity of many of these laws, it’s wise to remember that improving your environmental credentials can have significant business advantages.
Firstly, it can help you avoid penalties
Fines for non-compliance will eat into your profits. Sticking to the rules can help you avoid them, preserving more money for your pocket or investing in furthering your business goals.
Failure to comply can also lead to other restrictions, such as license suspensions, preventing you from doing business altogether.
Secondly, many customers prefer companies that care about the environment
While some customers are just looking for the cheapest deal, others care a lot about the ethics and environmental credentials of who they are buying from. They are willing to pay more for something that comes from a company they feel aligns with their values. One that is finding ways to tread more lightly on the planet and so forth. Other customers won’t even consider a company that has had bad press for an environmental violation.
One recent study found that 73% of consumers said they won’t buy from a company that denies climate change while 87% will buy from a company because it advocates for an issue they care about.
Keeping up to date with your environmental obligations is not always easy, as the laws can change. Getting help to ensure adherence and learn how to go even further is a wise business move to make.
