Why should my business be more sustainable?

8 April, 2021
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While we don’t want to shove more doom and gloom down your throat after the year of 2020, we do just want to say that corporate social responsibility (CSR) has never mattered more.

From pandemics and bushfires to socio-political hostility and hard mental health conversations – from here on out, everyday people are demanding change from businesses big and small. While the vast range of issues we face as a collective are equally important as the other, the area that businesses are being held heaviest to account in is sustainability.

If you don’t know where to start or why it’s important, that’s ok. We’re taking things back to basics!

So, if you’ve found yourself here today, consider it your sign to do your bit for the environment like your business and livelihood depends on it – because it literally does.

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Millennials impact your bottom line (if not now, they will eventually)

If you want the younger generation to buy your products or services, sustainability is important.

A Deloitte study on millennials conducted in 2019 showed that climate change and environmental protection are at the top of their concerns. Put simply, sustainability in business is no longer just the ‘nice’, ethical thing to do. It’s the expectation.

Another report published in 2020 found that 77% of consumers would be more willing to purchase a company’s products or services if the company showed a commitment to addressing environmental concerns.

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Ensure your business can actually operate long-term

For your business to be around for the long haul, you need to be thinking about sustainability now.

Particularly for the trades and other industrial organisations, it’s probably wise to think about where your raw materials will be coming from in 20, 50, or 100 years’ time. Building a sustainable supply chain will no doubt put your organisation ahead of your competitors, thereby ensuring longevity and success.

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Reputation is more valuable than money

Forbes has published findings of a survey which revealed that 87% of customers will have a more positive image of a company that supports environmental issues, and 92% will be more likely to trust a company that supports those issues.

Need we say more?

A good reputation is literally key to a flourishing business. If you’re seen as doing good for society in the way of environmental sustainability, consumers and the general public will start to build up positive attitudes towards you and they’ll share information with family and friends. This all generates a good reputation, standing you in good stead for the future.

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Of course, after all this, the biggest reason to make environmentally friendly changes to your business is to ensure we look after our natural surroundings to sustain our species. We have an ethical, unspoken responsibility to protect the Earth and all that it provides for us, and to make sure it’s a place that future generations can live happy, healthy, thriving lives on. This alone should be enough of a reason to want to do better and be better.

So, in the same way we think about leadership, communication, business models and succession plans, we need to think – or rethink – the way we’re helping the environment.

Formitize Smart Business Hub

The Formitize Smart Business Hub is a space that exists to provoke thought and inspire action for the modern business, and those wanting to be change-makers. It’s a place where businesspeople can come to learn and consider different ways in which they can implement positive changes to their organisation that they might not have thought of previously. Readers will be able to find fresh, relevant, and trustworthy resources on a range of topics including sustainability, workflow, leadership, technology, and digital transformation – the topics that matter to Formitize.

Established on the ethos that sustainability and smart processes are the heartbeat of both thriving lives and businesses, Formitize’s world-leading, end-to-end paperless business system is powering businesses – and even whole industries – by driving them toward a better, more efficient, and long-lasting future. The philosophy of innovating smarter business is what underpins the everyday work of Formitize and what they enable for others. Book a demo here and see for yourself.