Why sustainability should be the cornerstone of any business plan

Why sustainability should be the cornerstone of any business plan

22 Apr    Finance News, Opinion

As a business owner, I have come to realise that sustainability is not just a buzzword, but an essential aspect of any successful business plan.

In today’s world, where climate change and environmental degradation are becoming increasingly pressing issues, it is more important than ever for businesses to prioritise sustainability in their operations.

According to a report by the UK government, establishing a pro-innovation approach for UK businesses is essential to reduce their carbon footprint and improve their sustainability practices. Every business must optimise their operations, reduce waste, and improve energy efficiency, all of which can contribute to a more sustainable future.

For me, sustainability is not just about reducing my business’s carbon footprint or minimizing waste. It is about creating a business that is built to last, one that is resilient and adaptable to changing circumstances. By prioritising sustainability, we are not only doing my part to protect the planet, but I am also future-proofing the business.

The Capital Business Media group became a certified Carbon Neutral Company over five years ago, and I have regularly spoken about our companies work-from-anywhere policy, which also adds to not only our staff’s wellbeing, but also the companies overall carbon footprint.

Also as a company we encourage others to follow our lead with our Brands: EV Powered; encouraging others to follow our lead in making the move to electric vehicles, Electric Home; championing sustainable and renewable energy in home and commercial locations and our carbon neutral and fully sustainable business awards The Business Champion Awards, as well as of course being a leading proponent of sustainable SME’s with Business Matters.

One of the key ways in which sustainability has become an integral part of our business plan is through the adoption of sustainable practices in all of our operations. From reducing energy consumption to minimizing waste, we have implemented a range of measures to ensure that our business is as sustainable as possible. For example, all staff who have company cars these are now powered by electric, and our print business has implemented a programme throughout out supply chain to source ethically and sustainable and also a detailed recycling programme to minimise waste.

But sustainability is not just about reducing our environmental impact. It is also about creating a business that is socially responsible and ethical. This means treating our employees fairly, supporting local communities, and sourcing materials and products from ethical and sustainable sources. By doing so, we are not only doing the right thing, but we are also building a strong reputation and brand that customers can trust.

Another key aspect of sustainability in our business plan is innovation. By embracing new technologies and ideas, we are able to create products and services that are not only sustainable but also innovative and cutting-edge. For example, we were one of the first media companies to sent out subscription magazines in paper wrappers not plastic – even the biodegrade and compostable variants. By doing so, we are not only reducing waste but also creating products that are more sustainable and environmentally friendly.

But perhaps the most important reason why sustainability is essential in our business plan is that it is simply good business sense. By prioritising sustainability, we are able to reduce costs, increase efficiency, and improve our bottom line. For example, by introducing our work-from-anywhere policy which enabled us to reduce energy consumption and waste, we are able to save money on utility bills and office costs. By sourcing materials and products from ethical and sustainable sources, we are able to reduce the risk of supply chain disruptions and improve the quality of our products.

Moreover, by prioritising sustainability, we are able to attract and retain customers, like our anchor automotive division client Aston Martin who are increasingly concerned about the environment and social responsibility. In today’s world, consumers are more conscious than ever about the impact of their purchasing decisions on the planet and society. By demonstrating our commitment to sustainability, we are able to build a loyal customer base that values our products and services.

Sustainability is not just a nice-to-have in our business plan, but an essential aspect of our operations. By prioritising sustainability, we are able to create a business that is built to last, one that is resilient, adaptable, and socially responsible. From reducing our environmental impact to creating innovative products and services, sustainability is at the heart of everything we do. And by doing so, we are not only doing our part to protect the planet, but we are also building a strong and successful business that is fit for the future.

Richard Alvin

Richard Alvin is a serial entrepreneur, a former advisor to the UK Government about small business and an Honorary Teaching Fellow on Business at Lancaster University. A winner of the London Chamber of Commerce Business Person of the year and Freeman of the City of London for his services to business and charity. Richard is also Group MD of Capital Business Media and SME business research company Trends Research, regarded as one of the UK’s leading experts in the SME sector and an active angel investor and advisor to new start companies. Richard is also the host of Save Our Business the U.S. based business advice television show.

See also  Bloomberg Opinion: Is China's Economic Priority Shifting?

Leave a Reply

Your email address will not be published. Required fields are marked *