Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

6 ways to make your small business more sustainable

iStock 1286225508 - Global Banking | Finance

Making your small business sustainable doesn’t have to be difficult – but knowing where to start can be. That’s why Charlie Duke, Senior Product Manager at Mettle, the free digital business account by NatWest, is here to offer some easy tips on how to make your business more environmentally friendly.

With consumers wanting more environmentally friendly options to help combat climate change, being green is not only good for the planet but good for your business too. But, as a small business owner, it can be difficult to find ways to make your business more sustainable.

Deloitte UK’s recent sustainability report found that 32% of consumers are highly engaged with adopting a more sustainable lifestyle. It also found that 28% of consumers have stopped buying certain products due to ethical or environmental concerns.

Of that, the research found the sustainable brand practices that consumers value most include reducing your carbon footprint and providing sustainable packaging. Therefore, businesses need to adapt and change their ways, becoming more environmentally aware, in order to keep up with consumer demands.

Here are a few tips to help make your small business more sustainable…

  1. Calculate your carbon footprint

First things first, find out what your carbon footprint is so you can figure out where to start making changes. This is important because, according to the FSB, 69% of small businesses don’t know how to measure how much carbon emissions their business produces.

There are different carbon calculators available, like the Carbon Trust. It takes into account your fuel use from any cars, electricity usage and what appliances you use for your business.

Working out your carbon footprint is important, as you can then identify the sources that produce CO2 emissions and put in place measures needed to reduce them.

  1. Make energy-efficient upgrades

Whether you’re a small business owner or side hustler, and no matter where you’re working, becoming energy efficient is good for all. This doesn’t only help to minimise your carbon footprint but also helps to reduce your energy bills.

You can do this by using energy-efficient appliances like LED lights or smart thermostats.

  1. Use sustainable packaging

If you sell products, the packaging is a major part of your business. According to Food Navigator, between a quarter and a third of all domestic waste comes from packaging. And it’s no wonder! All this material can add up quickly, from the decorations that products are wrapped with and the boxes they are sent out in.

A great place to start is with recycled paper and cardboard or using paper tape instead of the plastic version. You could even opt for compostable packing peanuts instead of bubble wrap. There are also a lot of eco-friendly packaging companies available online such as ‘Element Packaging’, ‘Pouch Packaging’ and many more.

  1. Reduce, reuse, recycle

Always remember the three Rs: reduce, reuse and recycle!

The best way to keep waste out of landfills is by never sending it there in the first place. If you are a coffee lover, for example, and are often going out to get your favourite coffee, you can hit two of those three Rs off the list by buying a reusable coffee mug. You’re saving another disposable cup from the landfill and still getting the caffeine kick you need!

Try to reuse items whenever possible. Depending on what your business is, this can be anything from reusing structurally intact boxes, using offcuts or maybe even offering ‘imperfectly unique’ products at discounted prices.

When reducing or reusing isn’t possible, recycling is the next best thing and this applies to your old technology devices too. According to the Royal Society of Chemistry, there are 40 million unused gadgets in our homes. Which? has some great tips on how you can recycle your old tech, from trading it in and selling it to taking it to shops like Apple and Currys PC World which will recycle it in-store.

  1. Use second-hand items 

A simple step when you are moving towards a more sustainable business is using second-hand items wherever you can. If you have a small office space that you need to furnish, why not look for a second-hand desk on Facebook Marketplace, or go to your local charity shop for some desk lamps and chairs?

This also means furniture that still has life in it doesn’t necessarily end up in landfills. Choosing functionality and sustainability doesn’t have to come at the cost of style either. There are great vintage pieces waiting to be discovered.

  1. Use green web hosting services

If you need a website for your small business or eCommerce side hustle, it’s important to know how green the services that host your website are. This is because servers that host a website’s data are constantly on, using copious amounts of energy.

The Green Web Foundation is a great place to start and also offers advice on how to start your green website journey.

When it comes to climate action, any change you make is better than none at all! Whether you have a small business with your own space or are running a side hustle from home, there are small changes you can make to be more sustainable.

We hope this guide has taught you a few different ways you can implement sustainable practices into your businesses. With consumers wanting more eco-friendly options to combat climate change, it’s increasingly important for companies to be environmentally conscious. Good luck!

035 - Global Banking | FinanceAuthor Bio:

Charlie is a Senior Product Manager at Mettle, the business account backed by NatWest. He has a Masters in Mechanical Engineering with over ten years’ experience covering customer centric roles across both pharmaceuticals and banking. 

After three years in banking, Charlie turned his focus to developing fintech propositions and joined Bó, NatWest’s retail challenger brand, with a focus of returning the customer to the heart of the product strategy and delivering great products on behalf of customer needs.

Since joining Mettle, Charlie has led a mission to sustainably scale the business at pace and has seen completed applications double, as well as over 10x increase in new customers onboarded per week. 

Charlie is passionate about creating and delivering digital solutions that provide individuals with the financial confidence to work for themselves, in the simplest way possible.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post