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The Entrepreneurs

SUSTAINABLE SMALL BUSINESS’ GROWTH IN 2020

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When it comes to a rather smaller business, any kind of growth seen within it is considered to be a triumph. However, if you have a small business and want to tread towards productive sustainability then there are few things that can help you. The year 2020 is all about making sure that all kinds of practices that we do in our daily life or business must lead towards creating a more sustainable system. This means that it is high time that we really work towards making sure that our methods can be as supportable as possible for the future of our younger generations. Here are some sustainable ways that small businesses can focus on to ensure growth in 2020.

Use Safer Equipment’s

Many small businesses often tend to ignore this fact but do not realize that it is really important for the growth of their business. The kind of equipment and materials that you use in your production or manufacturing can have a huge impact. Equipment and electrical ones, in general, must be of good quality so that they can provide you with much more sustainable practices. The testing of equipment can make sure that they are not using more energy than required making it evident that you are keeping your methods much more viable. Several companies today provide small business with optimum test and tag services that both visit your workplace and can also ensure that the electrical equipment when tested is safe for use. By doing this you can actually be certain that your small business is keeping safety measures in mind and aiming to make its practices more sustainable over the course of time. This can help you in reducing the risk of fires and other kinds of emergencies that can have a huge impact on the overall growth of your business.

Be Socially Responsible

When you are working towards the goal of making sure that your small business is acquiring sustainable practices for its growth in 2020 then you must be socially aware and responsible also. This is very important that you are very much focused on opting a business that supports your local community. Try to go for raw materials or products that are sourced locally and made within the area you live in. Many customers also prefer to support a business that is more socially responsible and are green. For instance, if you have a small bakery or café then you can include sustainable practices by supporting local farms and options to source your food. Another great way to do that is by introducing recyclable materials or packing options. This way you can make your customers understand how deeply committed you are to sustainable practices thus making them support you more. All this is crucial for your growth as a business in today’s day and age.

Set Reduction Targets

We all know that the amount of carbon footprint that every individual, society, and business leaves on this planet’s climate is increasing exponentially and it has a huge impact on the overall sustainability of the planet. When you are a small business you might tend to have a lesser carbon footprint than other bigger ones but nonetheless, you still have some. Your goal in order to accelerate your business growth must be focused on reducing your current carbon footprint as much as you can. The best way to do that is by setting some sort of reduction targets for your activities that can be achieved within a period of time. You can do this by studying your actual carbon footprint report and then setting targets. For example, you can analyze your practices and then see if you can try to reduce some percentage of your carbon footprint in the coming five years. Maybe you can aim to reduce one per cent carbon footprint each year that leads up to a total of 5% reduction until 2025.

Invest In Your Workforce

Well, this is one fact that cannot be stressed upon enough in order to promote sustainable growth for your business in 2020. Your workforce is actually a very important asset for your business. Investing in your workforce does not necessarily mean in the financial terms. This focuses on keeping them satisfied and making them happy. Think of Maslow’s hierarchy, does the top of the pyramid ring any bell? The idea of self-actualization is very important here. Make sure that you keep your workforce happy and support them in any way possible. If there are people who have trouble due to transportation, work the issues out with them. Trust me this will hugely impact your growth and sustainability. Encourage the workforce as much as you can to get involved within the community. This will show your customers how well aware your business is in terms of working on things that matter in real life.

Utilize Technologies

This is a great step that many small businesses can take seriously in order to make sure that they are progressing towards sustainable growth in 2020. Technology is a huge enabler that has and is changing the way we perceive business practices today. From e-receipts to the use of solar panels there have been many new tech advancements that have given the small business a huge boost. It can help you in determining the supply chain data that you require with increased demand in the most effective manner. Did you know that over eighty per cent of manufacturing executives are actually relying on investing in sustainable technologies for the growth of their business? The reason for that is that technologies are utilized in the proper way can give your business a huge sustainable boost overall.

The key to making sure that your small businesses have sustainable growth in 2020 is to be ambitious and patient. Big changes certainly do not happen overnight so make sure you have effective mechanisms to deal with changing environmental needs and are working towards a few of the practices mentioned above to ensure that your growth is as sustainable as possible for the future of the world.

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