Some wasted resources can retain enough value to allow your business to put a price on them. There are a number of factors which can determine if it's worth your while.
Pricing your wasted resources depends on its nature, quantity and quality, and the demand within the market. Setting a competitive price can help you can trade successfully with a number of partners.
You need to account for the administrative and logistical activities involved in trading your waste. These may include:
- filling in paperwork
- collecting and delivering materials
- transporting and storing materials
- reprocessing materials if necessary
In some cases, where the resource can be reused without additional processing, it may be more beneficial to donate the materials rather than set a price.
It is important to keep up to date with the current value of the waste materials with which you are dealing. This will help you to offer competitive prices, and to understand the commercial value of the waste you are buying and/or selling - find the latest market value of waste materials to both collectors and buyers of recyclable materials.
You may be eligible for financial support to cover the costs of reprocessing certain waste materials so that they can be used again. Enhanced Capital Allowances (ECAs) offer financial assistance towards the costs of energy-efficient machinery and other tools designed to aid the reuse of waste materials - find details of funding to support waste management processes.