In contemporary days, environmental concerns and social responsibilities are becoming extremely important. It is now a business necessity and not only a global issue. Adopting sustainable business practices is not only good for the planet but also ensures that the business is ready for the future. In this blog, we will see sustainable business practices that can be adopted by MSMEs.

SUSTAINABLE BUSINESS FOR MSMEs

Sustainable business practices are strategies that help a business grow without harming the environment or society. In the case of MSMEs, it saves energy and resources, reduces pollution and wastes etc. This idea also includes using ethical and local supply chains and supporting employees and communities. This helps the company remain in profit for a long term.

KEY PRACTICES FOR MSMEs

  1. Energy Saving
  2. Waste Management 
  3. Water Conservation 
  4. Eco Friendly Materials
  5. Green Products
  6. Environment Friendly supply chain
  7. Digital operations 
  8. Employee Training 
  9. Follow Environmental Laws

1. ENERGY SAVING

Sustainable Business practices involve saving resources for the future. 

  1. You should save energy by replacing old machines with energy - saving ones. 
  2. Change traditional bulbs with LED lights.
  3. You can reduce electricity use and bill by using solar panels. 
  4. Track your power usage using energy meters and then work accordingly.

2. WASTE MANAGEMENT 

Waste Management is important as it harms the planet in many ways. To do this normally in our day to day life, we have 5Rs. They are Refuse, Reduce, Reuse, Repurpose and Recycle. Similarly MSMEs can also follow the 3Rs.

  1. You can REDUSE the waste by producing only what is needed. Production should be measured.
  2. You should always consider REUSING the materials. You can reuse the packaging or the leftover fabric etc.
  3. You should RECYCLE the scrap metal, paper, plastic etc. For this, businesses can contact firms that do so.

3. WATER CONSERVATION 

Water is a non - renewable resource. If extinct it can't be brought back. Companies should keep in mind to minimize its use and save it.

  1. Always use low flow taps as they reduce the amount and save water.
  2. Reuse the water for other purposes like cleaning or gardening.
  3. Build a rainwater harvesting system in your offices.

4. ECO FRIENDLY MATERIALS

Businesses should use planet friendly materials. They should buy, sell and use materials which are non-toxic, biodegradable and organic. They should also consider using recyclable or compostable packaging. They can switch from plastic containers to glass containers. They should also consider preferring suppliers who use ethical and planet friendly methods

5. GREEN PRODUCTS 

Try to design green products that are environmentally friendly. Make products that last longer and can be reused. If possible offer services like refill and repair. Businesses can go digital to reduce use of paper and plastic.

6. ENVIRONMENT FRIENDLY SUPPLY CHAIN

Going green not only means taking steps for your business but also engaging with people who are also concerned for the environment. You should buy from suppliers nearby to avoid transportation. You should choose vendors who follow ethical and environmental practices. If possible, you can choose to use electric vehicles for deliveries and other work.

7. GO DIGITAL

Try to work as much digitally as you can. Use cloud storage instead of paper files. Try to use WhatsApp, Emails and digital invoices. The best option is to offer products on e-commerce rather than to open physical stores.

8. EMPLOYEE TRAINING 

Employees are the backbone of your business. Educate them about saving electricity and water. Encourage eco-friendly habits  like turning off machines after use etc. Offer safe and inclusive workspaces and fair wages.

9. FOLLOW ENVIRONMENTAL LAWS

The government has made regulations to work in eco-friendly ways. One should get proper clearance from the Pollution Control Board. You should follow safety and hygiene standards and avoid illegal dumping of waste.

BENEFITS OF SUSTAINABLE PRACTICES 

Sustainable practices are not encouraged only because it concerns the environment but also because it helps you in various ways.

  1. It saves a lot of money as there are low energy, water and material costs.
  2. It attracts the eco- conscious customers who prefer green brands.
  3. It helps in getting easy loans and grants as green businesses get special funding.
  4. Adhering to pollution and labor laws helps avoiding fines.
  5. It helps expand markets as it becomes easier to export to countries with strict environment rules.

CONCLUSION 

Sustainability is a smart way to do business. This can lead to big savings, loyal customers and long term success as you are future ready. This can help you contribute to the global goal of environmental preservation. You can grow a successful business with the help of government schemes, financial institutions and consumer awareness. Sustainability is not only good for planet but also for business

If you’re also struggling with low sales in your business, this article can be extremely helpful for you. Moreover, if you’re facing any kind of challenge in your business and are looking for expert guidance, click on the link to the Leadership Funnel Program and get in touch with us now.