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Small businesses often ignore their social responsibilities. They consider sustainability and CSR a burden without realising the positive impact they can have on business growth. Sustainability not only helps the business gain a positive image in the eyes of its stakeholders but also helps the business work efficiently.
Here are 5 easy steps for small businesses to sustainability.
Understanding the need
Sustainability refers to the concept of shifting towards efficient energy sources, which helps save the environment and reduce business costs. Small steps such as using recycled paper, installing solar panels, and reducing the use of plastics help the business take a step towards sustainability. For businesses to grow, it is essential that they understand sustainability as an integral part of management and perform it with dedication.
Involving all
Sustainability comes from the urge to protect the planet. While you, as a business owner, might understand the importance of sustainability, participation is essential for other stakeholders, such as employees, shareholders, customers, etc. Participation in small activities that significantly impact the environment will encourage them to work more towards sustainability and create a positive working environment.
Setting Goals
Every function a business performs is only possible if it aims to achieve a particular goal. So is the concept of sustainability. The business must set goals concerning the activities in which it will engage itself and its employees to achieve sustainability. The businesses, being SMEs, can start with small goals to be achieved. It is setting goals such as using recycled papers, scheduling a day off for planting around the office areas, initiating public programs to make society aware of sustainability, etc. All these small efforts help the business to grow effectively and efficiently.
Policy formulation
To achieve the business's goals, policies must be formulated. Policies include where, when, and how the goals will be achieved. Framing the policies also requires creating budgets relating to each project initiated to become a sustainable business.
Exploring investment opportunities
In a business environment, opportunities lie everywhere; all you need to do is identify the right opportunities at the right time and tap them before your competitors. Sustainability is all about innovations, i.e., finding innovative ways to perform tasks cost-effectively. Governments in many nations, to promote sustainability, offer schemes and tax rebates for the installation of efficient energy sources; such opportunities need to be tapped by the businesses to fulfil their social and personal responsibilities.
Small and medium enterprises must understand that sustainability is a valuable addition to the company, as well as its assets and goodwill. It must be performed with all good intentions and concern for the environment. Believe it or not, a good intention will automatically open ways to success for your business.
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