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Businesses, especially small ones, usually have the misapprehension that they’re not making that big of an impact on the environment. But have you ever thought of how customers see it from their perspective? You might be surprised to know that most consumers nowadays are becoming more and more conscious of the brands they support. This is perhaps the reason why sustainable businesses are all the rage right now—and for good reasons.

The decision to go green isn’t only a good move for the benefit of the environment. You’re also making your company a desirable target among consumers who support environmental and social causes. If you’re ready to make the switch, here are some initiatives and ideas you can try to make your business more sustainable:

Tap into Renewable Energy Sources

It’s already a given that your business will use energy for almost everything. From manufacturing to administrative tasks, you can’t do anything without electricity. Aside from ensuring you have energy-efficient equipment, tools, and appliances in the workplace, you can also tap into renewable energy sources to create a more significant impact on the environment. Several solar companies in Miami or in the area where you operate can help you make this happen.

While tapping into renewable energy sources may seem like a big expenditure on your end, it’s a business investment that can reap benefits in the long run. Your monthly electric bills will significantly go down, and you may also be eligible for tax exemptions and deductions. Thus, you won’t only be saving money, but, more importantly, you’ll be able to minimize your carbon footprint.

Other renewable energies you can tap into for a sustainable business operation are wind, hydropower, geothermal, and biomass. As the reality of finite sources sinks in, there’s all the more a pressing reason to consider cleaner and greener energy alternatives that can help lessen energy problems.

Reduce Energy Consumption

Aside from tapping into renewable energy sources, you can also develop ways to reduce energy consumption in your workplace. Make it a point to constantly remind employees to turn off their equipment and other appliances when not in use, such as computers, televisions, and lights. You can also utilize natural lighting when possible. Doing so won’t just lower energy bills, but it can also help boost productivity.

Recycle, Recycle, Recycle

The benefits of recycling can’t be emphasized enough. If the goal is to reduce waste going to landfills, then the best way to do so is to make sure you don’t send scraps there in the first place. The key is to recycle as much as you can ruthlessly. In every aspect of running your business, reusing and recycling supplies are of high importance.

For instance, in your cafeteria, you and your employees could use ceramic and real glass cups, plates, and other kitchen utensils instead of opting for disposable ones. If you can’t fully implement paperless processes, encourage staff to print on both sides of the paper. Make sure you have enough recycling bins all over the building to motivate everyone to recycle when possible.

Turn To Sustainable Packaging

If your business heavily relies on packaging materials for your products, it’s an excellent idea to turn to sustainable packaging when selling and shipping your items. You can choose cost-efficient materials that won’t negatively impact the environment when discarded or thrown away, including recycled cardboards, plant-based plastics, and corrugated bubble wraps.

This approach is actually more attractive to consumers who support brands that offer compostable and sustainable packaging. You can also encourage your customers to switch to reusable shopping bags and other recyclable materials that can help lessen the use of plastic bags.

Use Sustainably-Sourced Goods And Services

Another way to make your business more environmentally friendly is by reviewing and amending how you procure your goods and services. Whether food supplies for employees or the selection of contractors for your projects, being more conscious of the sourcing process is an excellent way to stay in the zone of your sustainability goal. 

An excellent way to start is by looking for a local supplier instead of getting your goods and services from faraway locations. Make sure the products are manufactured in a responsible, ethical, and sustainable fashion. Also, there are goods produced using renewable materials and don’t contain ozone-depleting or toxic substances. It’s recommended to be educated on the subject to know more ways to utilize green procurement for your business.

Lower Your Water Consumption

Becoming a sustainable business also means being responsible for how you use water in your facilities. Even when you’re not located in a drought-stricken area, you still need to make sure your enterprise utilizes different ways to help lower water consumption. 

Dripping or broken taps, for example, should be fixed. You can also install faucet aerators and low-flow toilets in restrooms or washrooms to ensure water usage is kept at a minimum requirement. To add, cleaning or janitorial tasks in the building can be done using pressure washers that feature high-efficiency specifications.

Partner With Other Green Businesses

Sustainability isn’t all about going green in your facilities. You can also practice the advocacy by supporting other companies with the same vision and mission as yours. From shipping carriers to software businesses you partner with, you can choose those that are just as sustainable as you are. 

You can also think of ways to work with groups that advocate environmentally-friendly causes. It could be a government agency that can help you grow your business or a non-profit organization to make your donations and other contributions when necessary.

Takeaway: Creating A Culture Of Sustainability

Aside from all the tips mentioned above, it’s worth noting that you should include your staff and colleagues in every step of your sustainability switch. This means encouraging them to participate and instill the values even when they’re already out of the office. These initiatives could go a long way in helping the planet and minimizing carbon footprint.

Now more than ever, it’s essential that your business has a clear insight into how to conduct your operations. With sustainability as one of your core principles, you can make a more positive impact while also reducing operational costs. To add, you can expect customers and clients to continue supporting your brand when they know you’re doing your share in making this world a better place to live in.

We’re all used to abiding by the law on a daily basis. Obeying traffic signals, wearing our seatbelts, picking up after our pets, and not trading a company’s stock with individuals who have access to non-public information about the corporation are some examples.

But wait a minute. The last example doesn’t look like something that would occur daily in the life of an average person (unless they work in a business where they have to abide by corporate law). Right?

And if you’re confused about what that even means, don’t worry. This article will explain everything about corporations and corporate law.

Let’s begin!

Corporate Law 101

Corporate law can be defined as all the rules, regulations, laws, and practices that concern corporations.

These laws regulate the obligations and rights concerned with an existing company’s activities such as formations, operations, and management.

What’s the difference between business and corporate law?

There’s often a fair bit of confusion when it comes to differentiating between corporate and business law.

While corporate law handles the legal aspects of sales, buying decisions, and distribution of goods, business law covers other important aspects such as acquisitions, mergers, and the rights of shareholders.

It’s also important to note that corporations are unique in the sense that they are seen and treated as a single entity by the law despite being made up of large groups of individuals (owners, employees, investors).

This means the law deals directly with the business rather than the individuals within it. Essentially, the entire corporation is treated as a single person.

What is a corporation?

To really understand corporate law, you must understand what a “corporation” is.

A corporation is a group of individuals or a company that acts as a single legal entity to run a  business.

When an individual owns a share of a corporation, they have limited liability. This means they are only accountable for the money they invested in the business.

If the corporation fails, they only lose the invested amount and are not held liable for the firm’s debts.

Here’s more information on the different types of corporations.

How does a business gain corporation status?

A business becomes a corporation when it “incorporates”, which is essentially a legal process that separates the company’s assets from the personal assets of its investors and owners.

Many businesses choose to incorporate because it helps protect their assets, makes transfers of ownership easier, lowers tax rates, and makes raising capital significantly easier.

The five legal characteristics that make up a corporation

All corporations are companies, but not every company is a corporation. The thing that makes corporations unique is their independence from owners and shareholders.

To qualify as a corporation, a company needs to have all of the following characteristics.

Legal personality

All resources from owners and investors are placed in a separate legal entity, which can then use these assets to perform business activities.

Limited liability

Owners and investors have limited liability and are only responsible for the money they invested in the corporation.

If the business has legal action taken against it, the investors and owners are not held personally liable — the business is treated as a separate entity.

Transferable shares

If investors or owners no longer wish to be a part of a corporation, they can simply transfer their business shares to someone else with little to no effect on the corporation.

Delegated management

The make-up of a corporation includes officers and a board of directors. The board employs and monitors the officers while the officers take charge of day to day activities.

Investor ownership

Investors may help make certain decisions for the corporation, but they are not directly involved in running the company.

The Importance of Corporate Laws

Corporate laws may seem as if they’re only in place to serve as hoops for big corporations to jump through to conduct business. But in reality, it is quite the opposite.

Corporate laws were made and enforced to help maintain a fair market and allow new businesses to enter and compete.

They help keep all corporations on a level playing field by prohibiting unpredictable and unfair business practices and behaviors.

Just like individuals struggle to move up the corporate ladder during their careers, corporations struggle to dominate other businesses.

For example, certain big corporations are notorious for raking in vast amounts of money and holding a great deal of power in a particular market.

If these corporations are not held in check, they may start monopolizing markets, meaning they may become the exclusive providers of a specific trade, service, or product.

But fortunately, corporate antitrust laws prevent large monopolies from forming and help protect consumers from such predatory business practices.

Corporate Crimes

In criminology, corporate crime refers to any crime committed by either a corporation or individuals acting on behalf of a company.

Because of the substantial influence corporations can have on the national economy, the laws that dictate the way they function (corporate laws) are taken very seriously.

The worst corporate crimes can even lead to judicial dissolution — also known as the “corporate death penalty” — which is the legal process of dissolving a corporation.

Here are a few examples of corporate crimes:

Antitrust violations: Abusive trade and commerce practices such as price-fixing, price discrimination, restraints, and monopolisation efforts.

Insider trading: Illegal practice of trading stocks for one’s own advantage through the use of non-public and confidential information.

Bribery: Offering valuable items as a means of gaining favors from an individual holding a legal or public duty.

Corporate fraud: Illegal activities (undertaken by a corporation or individual) done in an immoral and fraudulent manner. This kind of fraud is often designed to benefit the perpetrating corporation or individual. It is also important to note that fraud doesn’t always have to be of a corporate nature, as outlined by LY Lawyers.

False claims: When an individual knowingly presents false or fraudulent information to the government in an effort to get money or property in return. Basically, individuals who seek to cheat the government out of its money often make use of false claims.

If all of that sounds interesting to you and you want to study corporate law, here are the top 20 law schools in the US.

Small business owners don’t always have the capacity to hire accountants and even if it is a possibility, it is still beneficial to understand where your money is going. Finance for small business owners can be time-consuming, but if you are organized and know what you are doing, it’ll reflect in your profits.

Ensure you maintain an optimum business credit

It’s essential to pay off any credit cards on time to keep your credit score up, this will benefit you in the long run, not just for business but also for peace of mind. There is no harm in setting up standing orders or reminders on your phone calendar.

Another useful tip would be to keep your business and personal bank accounts separate, you will thank yourself in the long run when you don’t have mixed-up transactions. Organizational skills are crucial when it comes to business finance and once you know how to arrange your finances, you will be winning.

There are options to help you invest but be wise about your choices

There are direct lender loans available with no hidden fees, they can be used in emergency situations and can sometimes minimize time searching for the right choice. Of course, this is a decision that would need to be thought about wisely. If you can guarantee you’re investing money where you’ll earn it back with a profit, it might be a smart choice.

Sometimes it is worth looking into where you can save money as a business, instead of where you can invest it. This really does depend on the type of business you own though.

Spent time on digital budgets or hire someone to do this

Small businesses have many opportunities, and as more and more companies are online, it’s beneficial to invest in digital marketing techniques like SEO, social media, and PR. Using the opportunities you have online could grow your business rapidly, you could set out a monthly budget to spend on adverts to engage your target audience and repeat the results if they’re successful.

Save money by using free cloud software to manage your team

It is a great idea to reap the benefits of free software and tools online to manage your small business team, for example, cloud storage for saving documents and files, this can be accessed by everyone. Giving your team permission to work online remotely opens up possibilities to save on office energy bills, equipment, and much more! A huge part of business finance is assessing where you can save as well as invest it. Free digital tools are worth researching to see if it is viable for your small business to save money and improve finances.

If you follow these tips, your small business could quite possibly grow into a big business, and with the right finance in place, you’ll have no trouble expanding! Good luck with the future with your small business.