Finding the right balance between revenue and costs is critical for business success. Peaks and troughs in the economy are hard to predict, but any business can improve its profitability by closely managing costs. See if you can make your business more sustainable with our eight top tips.
1. Set a baseline:
Carry out an environmental review of your business to assess current weakness and to be able to measure future progress against targets.
2. Put sustainability at the heart of your business
Develop a sustainability action plan and targets, and consider a structured approach to your environmental improvements by using an environmental management system.
3. Save money by reducing, reusing and recycling your business waste
The waste material your business produces can be an unnecessarily costly burden - eg landfill tax, or a wastefully untapped potential source of revenue. Think about different ways to deal with waste:
- Reduce your business waste to save money
- Reuse your business waste to boost profits
- Recycle your business waste
4. Save money through energy efficiency
Better control of heating and hot water systems, lighting systems, idle office equipment and machinery are all prime areas to save money through energy efficiency.
5. Save money by cutting your water use
Reducing your water use, storage of rainwater or sustainable drainage systems can help your business become more water efficient.
6. Save money by making your processes more efficient
Take a close look at your processes to catch unnecessary waste in materials, effort and time - improve your process efficiency.
7. Save money by reducing business travel
Think about investing in video conferencing facilities to cut down on travel needs, and consider more sustainable alternatives to car travel with a workplace travel plan.
8. Review your progress and keep improving
By making a series of environmental improvements you shouldn't need to go back to square one, but reviewing and building upon your progress is key to continually improving your business. Meanwhile you can take the opportunity to market your hard-earned environmental credentials.
For more detailed guidance and next steps see make your business more sustainable.