Green SMEs: Catalyst for Green Economy

With ‘green’ being the buzzword across all industries, greening of the business sector and development of green skills has assumed greater importance all over the world. SMEs, startups and ecopreneurs are playing a vital role in the transition to a low-carbon economy by developing new green business models for different industrial sectors. Infact, young and small firms are emerging as main drivers of radical eco-innovation in the industrial and services sectors.

Green SMEs

What are Green SMEs

Green SMEs adopt green processes and/or those producing green goods using green production inputs. A judicious exploitation of techno-commercial opportunities and redevelopment of business models, often neglected by established companies, have been the major hallmarks of green SMEs.

For example, SMEs operating in eco-design, green architecture, renewable energy, energy efficiency and sustainability are spearheading the transition to green economy across a wide range of industries. The path to green economy is achieved by making use of production, technology and management practices of green SMEs. Impact investment platforms allows individuals to invest in environmentally sustainable companies.

Categories of Green Industries

Environmental Protection Resource Management
Protection of ambient air Water management
Protection of climate Management of forest resources
Wastewater management Management of flora and fauna
Waste management Energy management
Noise and vibration abatement Management of minerals
Protection of biodiversity and landscape Eco-construction
Protection against radiation Natural resource management activities
Protection of soil, groundwater and surface water Eco-tourism
Environmental Monitoring and Instrumentation Organic agriculture
Research and Development Research and Development

Key Drivers

The key motivations for a green entrepreneur are to exploit the market opportunity and to promote environmental sustainability. A green business help in the implementation of innovative solutions, competes with established markets and creates new market niches. Green entrepreneurs are a role model for one and all as they combine environmental performance with market targets and profit outcomes, thus contributing to the expansion of green markets.

Some of the popular areas in which small green businesses have been historically successful are renewable energy production (solar, wind and biomass), smart metering, building retrofitting, hybrid cars and waste recycling.

As far as established green industries (such as waste management and wastewater treatment) are concerned, large companies tend to dominate, however SMEs and start-ups can make a mark if they can introduce innovative processes and systems. Eco-friendly transformation of existing practices is another attractive pathway for SMEs to participate in the green economy.

The Way Forward

Policy interventions for supporting green SMEs, especially in developing nations, are urgently required to overcome major barriers, including knowledge-sharing, raising environmental awareness, enhancing financial support, supporting skill development and skill formation, improving market access and implementing green taxation.

In recent decades, entrepreneurship in developing world has been increasing at a rapid pace which should be channeled towards addressing water, energy, environment and waste management challenges, thereby converting environmental constraints into business opportunities.

10 Green Business Ideas for Young Entrepreneurs

Out of some of the hottest trends that have been on the top lists for quite a while are choosing an entrepreneur as the primary occupation and doing an eco-friendly business. While the former is primarily motivated by making money to afford quite a comfy living, the latter is usually motivated by something else. And that something else does not mean it has to be charitable.

The eco-friendly business has lots of benefits, the scales of which largely outweigh the monetary advantages of doing any kind of other business. Just think about it, by going green with your business you’re promoting the Earth’s safety from potential environmental catastrophe, you support innovation, and simply look cool and trendy. So, what are the specifics of doing business in a green way? Using essay writing service uk also will help you find more information about green business.

green-entrepreneurship

Green Business: The Essentials

Although it might seem like something totally out of this world, green business is still business. You still have to be aware of all the formalities, such as legal regulations, competition, and economic rules and environments. You must make sure that people know about you, so marketing through all channels is reasonable.

Yet, there are some specific characteristics of the eco-friendly business in particular. In fact, such specifics are large in numbers, yet, their main ideas lie in creating and maintaining an image of the sustainable business that cares about its surrounding in all possible meanings. That applies not only to Mother Earth but also to your employees (who should be treated well anyway), your customers, and your business partners.

green-business-ideas

As for how you can do that, here are the 10 hottest green business ideas for green entrepreneurs today.

  1. Start with yourself. If you want to run an eco-friendly business that pursuits a corresponding role, you want to make such business green to the bone. Try to reduce or eliminate the use of harmful materials in as many processes as possible. Recycle the office supplies that got used up. Avoid transportation using fossil fuel vehicles. This way you’ll show that what you do is not only for money or prestige, it’s for the sake of itself, which is quite attractive for consumers.
  2. Save energy and water. While neither electricity nor water harms the environment, by saving them, you also save the environment. The thing is that electricity production might harm the environment while saving water basically saves water, the resource that becomes quite scarce even in the developed countries of the world.
  3. Address green consulting. Yes, there is such a thing as green consulting and it might be very useful especially in the beginning. Essentially, by addressing a sustainability consultant, you retrieve invaluable information for your green business that you will be able to use and reuse at your disposal. So, don’t neglect a great piece of advice, even if you have to pay for it.
  4. Topical publications. It’s also nice to show that you know what you’re doing. By creating a blog outlining the current environmental trends, you can achieve exactly that. While some of the elements of your business will surely demonstrate your eco-friendliness anyway, sharing your experience and knowledge with people also looks pretty cool.
  5. Support relevant local events and businesses. It’s always nice to have a community that follows similar ideas to yours. Sponsor the bicycle races or supply the local concerts with what you have to offer, and people will see you even if you make minimum to none marketing efforts.
  6. Partner with similar businesses. By directly cooperating with other businesses supporting sustainability will reduce the harm you might potentially do to the environment to the minimum. While you might use sustainable technology yourself, your suppliers, for instance, might not. Partnering exclusively with eco-friendly businesses will surely fix that.
  7. Even more topical publication. You might not get popular with all this eco thing in your country. But you can still expand abroad, at least, on the internet. You can significantly enhance your online presence and SEO by translating your blog content. Just check out Pickwriters and find a suitable professional for your business. There’s a lot of services like that online and many of them don’t charge a fortune.
  8. Promote reuse and recycling. Whether you produce certain green products, sell them, or provide eco-friendly services, there’s always a place for reuse. Recycle the container material, encourage your customers to bring those paper bags back for a reward, or reuse all your tools whenever possible.
  9. Get involved in green financing. This is suitable for the later stages of your business development. While there were some ways, in which you can support the local sustainability movements, you can also help with money directly whenever you can. Give donations that develop and support sustainability, sponsor the cleaning of public spaces, etc. there are many ways to help our environment and money is not an exception.
  10. Don’t stop in one kind of business. You can do good in many ways. If you sell organic food, deliver it, and help other businesses to do the same. If you repair bicycles, gather the old ones and refurbish them. If you produce organic beauty products, then sell them or provide beauty services for people.

Doing the Right Thing

Doing an eco-friendly business is certainly the right thing. There are lots of ways you can make our world a little bit cleaner and safer to live in and many of those ways can co-exist in one business. It’s important to remember that whenever you do a good thing, there’s no point in doing just one good thing. Diversifying your sustainable business will only multiply the great things you do in the first place.