Recycling rates in the U.S. have dropped. In 2018, the rate was well above 8%. However, in 2021, that rate dropped to 5-6%. Like regular households, recycling within businesses has slowed down as well. However, what many companies aren’t aware of is that recycling could help grow their businesses in various ways.
Recycling is not only good for the environment, but it’s also good for business. There are several ways businesses can use recycling to save money and increase profitability.
Here are some ways you can use recycling to fuel your business growth.
As a part of waste management, recycling saves you money on office supplies and shipping costs by reusing materials instead of buying new ones or packaging them in new containers, respectively. The same goes for printing, in which using 100% recycled paper over virgin paper can save costs to a great extent.
Packaging made from recycled content is also much more cost-effective than its virgin counterpart, often costing half as much per tonne of material shipped or stored in the warehouse. This means lower overhead costs associated with storing inventory at home or in another business’ warehouse. There may even be opportunities available at your local recycling facility that could reduce these costs further if negotiated correctly.
Recycled goods are often cheaper than their new counterparts because they are usually made from inferior materials mixed together with other types of recyclable scrap plastic or metal scraps. The ability to cut down costs at the office will prevent large expenditures which would otherwise have gone into buying brand new stuff.
Besides, you can even redirect some of the saved money to other areas or projects which require more funding. Around 38% of new businesses fail due to a lack of capital. With proper funding, these businesses could have survived longer or even made it big. For such businesses, recycling can lead to savings, which in turn could add to their capital, allowing them to make better investments for themselves.
Save Space at the Office
Recycling and the subsequent reduction of waste means that you can save space at the office. If you are living in a building with limited space for storage, you may have difficulties finding enough space for all your supplies and equipment. Recycling more will help alleviate this problem, especially when you opt for dry mixed recycling (DMR). DMR can help recycle waste effectively and efficiently, which will also allow you to open up more spaces at the office, warehouse, or at least on your shelves.
Another way recycling helps with space is by reducing how much stuff you need to store. When you recycle paper, glass, metal, and plastic bottles, there is less need for bulky boxes. This leads to an overall reduction in storage requirements.
You can reduce the amount of waste you produce by using less, recycling more, and reusing materials. You can also consider making changes to your business that will help you produce less waste overall.
When you recycle, you’re able to use the full utility of a product or resource. That means you’re not wasting any of it, which in turn allows you to spend less money on that product or resource the next time you have to buy it.
Keep Resources in Circulation
When you recycle more, you’ll be able to save resources. Remember that each time we use a resource, it gets used up and then must be replaced with something else. Thus, when you reuse an item or put it back in circulation instead of buying a new one, you’re saving the planet from having to make another one.
This is especially important when it comes to resources like oil or natural gas because they’re becoming scarcer and more expensive as time goes on. By keeping your old stuff out of landfills and putting them back into circulation instead, you can save money by not having to find new sources for these expensive resources.
Improved Brand Reputation
Good reputations are hard to earn and easy to lose, but they can be a powerful growth driver. The more people who think positively of your company, the more likely they are to buy from you. Since recycling helps build a greener environment, it’s an easy way for people in your community to associate you with positive feelings toward the planet. Thus, you can retain old customers or clients while acquiring new ones, especially those from a younger generation.
The United States generates the most amount of waste in the world. Each American produces 811 kg of waste, which is two kilograms more than what they produced in 2019. It’s an alarming jump, one that needs to be addressed as quickly as possible. American businesses must be the first ones to do something about it. Only then will the general people follow.
For many businesses, recycling is just a part of doing business. However, as you can see from the points in this article, recycling has benefits across multiple spheres. Thus, if you’re not doing it already, it’s time to invest some time and resources and embrace recycling at your business and workplace. You’ll soon notice how doing so is helping your business grow, not just in terms of finances but as well as in terms of brand value.