How Entrepreneurs Can Contribute To Sustainable Economic Development

Entrepreneurs are successful people who are able to achieve great things for themselves. They take risks to achieve their goals, but this doesn't mean that they are reckless or careless.

It just means that they believe they can achieve greatness with hard work and sacrifice. This means that entrepreneurs often accomplish great things because they don't spend much time looking at the "what ifs."

They don't sit around and say, "What if I don't succeed in this? What if I fail? What if I fail big?"

They don't worry about these kinds of things. Instead, they focus on moving forward.

They focus on what they can control and often tell themselves that failure is just part of the process.

Entrepreneurs are being asked to take sustainability to heart more than ever before

Asian man helping friend to get up from ground

Entrepreneurs are being asked to take sustainability to heart more than ever before, since many feel that we are at a tipping point with the pressure to develop sustainably and to ensure that there is a positive impact on the environment.

Sustainable practices can make good business sense, but also build community as more and more of us live our lives with and near businesses. The need to transform our economic system to account for the true cost of its product and the planet's resources has never been greater.

Embracing the "factory miles" concept and other cost considerations is an important element of sustainability, as many of us are looking for ways to shift our consumption from mass to personal.

As an example, consider the car you drive. While at home or at work you may drive a car that is good for the environment and good for the pocket, but if you purchase an electric vehicle, you will save gas and decrease your carbon footprint. But that may not be enough.

Some business owners go so far as to take part in carbon offsets or purchase hybrid vehicles. In many cases, small businesses are innovating as a matter of course.

And yet many of these innovative practices are not the result of "greenwashing" but rather of creating a business that makes good business sense. Here are some business practices that are sustainable, and that small businesses are helping to drive and sustain.

Environmental sustainability:

Closeup photo of sprout

Reducing the amount of resources used is a fundamental element of sustainability.

Not only do entrepreneurs know that many of the materials they use on a daily basis are a significant drain on the environment, but they also know that they will have to pay more for those resources if they want to make the same things, and they will have to find new, more sustainable and low-cost methods to create them.

In addition, customers want to know that their products are Eco-friendly, as they become more aware of the issue. This has led to an ever-increasing demand for environmentally friendly products, from energy-efficient lightbulbs to recycled office supplies.

Many entrepreneurs are willing to pay a premium for products that are sustainable. For example, various packaging companies are beginning to source products that are 100 percent recycled and reduce the use of fossil fuels, both of which can have a positive impact on the environment.

Loss prevention:

financial crisis, stock exchange, trend

A great deal of waste in business, including unused product, parts, excess energy, and a myriad of materials, could be captured and returned to the community. Removing waste from the environment can be good for business, as it allows for a smaller carbon footprint, as well as more efficient use of supplies and materials.

Similarly, labor can be a significant waste of resources. As opposed to a company that needs to hire a full-time employee to tend to its plants, automation allows for more efficient use of labor.

This allows the business to save money while providing its customers with a high-quality product, without the need to pay benefits or other significant payroll taxes.

Greater sustainability:

In many cases, even if a business is operating in a sustainable manner, it can still do more to protect the environment. Hiring better equipment, for example, can reduce energy usage.

By establishing a policy, many owners have been able to drastically reduce waste that is generated in their facilities. One simple, environmentally friendly practice that many businesses have incorporated is composting.

Composting can be done anywhere from one to seven days after the end of a production shift, depending on what is produced in the facility.

This is essentially a way to convert organic material into usable soil and nutrient for growing plants, without adding any additional fertilizer or pesticides. Composting is the fastest growing form of organic waste disposal in the country, and some businesses have gone so far as to sell their compost, generating money and reducing the amount of land taken up by waste.

There are many different ways to compost, and many businesses take advantage of different equipment options.

Businesses are beginning to realize that it is vital to work towards a more sustainable existence. By adopting the three policies above, they are making the world a better place, for themselves and for all of their customers.





SQ Recommends

Copyright © 2024
Success Quarterly Ltd. company