Wednesday, June 19, 2013

Going Green as an Competitive Economic Advantage

"The Big Green Opportunitysurveyed over 1300 businesses in 2012 and demonstrated that green business goods and services are growing faster than any other good in the economy. Green business has created opportunities for microbusinesses to rise out of the recession. Those surveyed reported that the greener the product, the more likely it was to sell.

There has been an increase in consumer demand for green goods, allowing many small businesses who offer organic, natural, or green products a high competitive advantage. This new "green competition" is driving economic activity and is stimulating the green industry.

According to "The Big Green Opportunity," renewable energy use has increased 456%, the organic food market grew 238%, and green certifications has grown 180% since 2002.

The Big Green Opportunity
Although the housing market shrank 17% after the housing bubble burst at the beginning of the recession, green building was not phased, growing by 1700%. Green building now represents 38% of the construction market and generated $54 billion in revenue in 2011.

Small businesses are going green by purchasing energy-efficient equipment, providing energy conservation training, and using efficient lightbulbs, leading to a reduction in energy waste and high returns on investment.

The survey encourages small businesses to act fast--going green won't always be a competitive advantage, as larger firms and corporations are beginning to adopt green and energy-efficient practices. Going green isn't just an alternative lifestyle; it's quickly becoming an industry norm. Consumer demand for sustainability is higher than ever, so small businesses must seize this opportunity before larger corporations do.

Learn how to integrate sustainability into your business plans and projects with our Green Business Practices courses!