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These days, the world is paying more attention to the environment and climate change than ever before. Consumers want to make a difference in the world and one way they are doing that is by buying their goods and services from sustainable businesses. This is a trend that is growing fast, so if you are a budding entrepreneur, then you need to think about how you can go green with your next business endeavor. Here is some advice on the importance of going green and tips for how you can apply them to your own business.

Look to Companies that Did It First

It is a fact that many people are shopping at companies that are making an effort to be more sustainable, and this information is not lost on some of the well-known brands of the world. If you need inspiration then look at a company like IKEA, which has been cutting down on its electricity usage by installing thousands of solar panels in their store locations so they can create cleaner energy. They also made it a point to give all employees bikes so they can cut down on their carbon footprint on the way to work.

Over at Nike, they have modified the materials that they use to make their shoes and now they are using post-consumer recycled materials, which cuts down on the manufacturing necessary to buy new materials. At Apple, they have a program that encourages customers to turn in their old phones for a store gift card. Then, Apple recycles the electronics for free so they don’t end up in our landfills.

The point is that many companies are doing what they can to be more sustainable and customers are loving it. By going green yourself, you can increase your profits and know that you are doing the right thing for the environment.

Finding Funding for Your Sustainable Business

If these success stories have convinced you to start a sustainable business and you have a product in mind, then it is now time to find funding for your venture. You have multiple avenues that you can take when looking for funding. At a minimum, you can go to a bank and apply for a loan. The fact that you are aiming to be sustainable may make it easier for the lender to say yes.

Another idea is to apply for a small business grant. The great thing about a grant is that it is often considered free money since you typically are not required to pay it back. The type of business you have may make you more likely to secure a grant. Ecologically friendly or green businesses are often at the front of the line because you are providing a product while also helping the environment. However, a lot of companies are turning to sustainability, so you will have plenty of competition. 

To help your chances, take the time to learn more about the application process, and perhaps even reach out to the grant funder to find out more information. There are many different grants available, so try several organizations to see if you find success.

Keep in mind that for most types of funding, you’ll need to have your business legally registered with the state. Texas has several business entities you can choose from, and each has its own benefits. For example, an LLC in Texas protects your personal assets from any legal processes your company may face and offers tax advantages. Meanwhile, a Texas subchapter S corporation gives you the option to claim deductions on financial losses your company incurs, and you’ll enjoy savings on self-employment taxes. Carefully research different entities to discover what makes the most sense for your business.

Marketing Your Green Business

Since you know that consumers are more interested in sustainable businesses than ever before, it would be a wise idea to advertise and market your business with that aspect in mind. Put a message on your website that announces that you are a green business and mention specific details. 

That information should be a major part of your overall marketing plan or the guidelines that you plan to follow when advertising your business. You can create a marketing plan by figuring out your target demographic and then researching the best methods of reaching those particular customers. This plan will also factor in the budget that you have available so you can have a realistic idea of what you can spend to get the word out about your business.

Consider Images as Well

If you really want to make an impression then consider adding photography into your marketing. You can include pictures of your businesses, the sustainable practices that you are taking, and how happy your employees are to be part of a good company. These images can go a long way toward making a great impression. You can put those photos on your website or send them out as part of your direct emailing campaign.

As you can see, if you are thinking of starting a sustainable business, then now is the time to make it happen. When you do, remember to do your research when it comes to funding, obtaining a grant, and marketing, and you will have a great chance at success.

Join the Odessa Chamber of Commerce to make invaluable connections and access great resources that will give your business a boost in our community!