Overcoming Sustainability Challenges for Small Businesses
Actions speak louder than empty sustainability promises.
Small businesses have begun to join industry leaders in the fight against climate change. But, the task is not as simple as it sounds. Compared to massive corporations with plentiful resources, small-medium enterprise (SME) owners lack the tools and support. The pool of funds and skill sets are much greater for larger businesses. These companies are quickly shifting their policies to align with the environmental, social, governance (ESG) movement. A part of these changes includes requiring businesses they work with to comply with their sustainability standards. This puts small businesses without decarbonization commitments at risk of losing business. A BDC study found that 50% of SME suppliers believe adopting ESG is positive because it can lead to new business opportunities.
Leaders must go beyond announcing a commitment to reduce carbon emissions. Understanding where to start, long-term benefits, and how to build a culture that inspires change is vital to achieving sustainability targets.
Sustainability Challenges SMEs face
Where to Begin: Now that your business has decided they want to make changes to reduce harm on the planet, what’s next? Every business’ timeline, initiatives, and actionable targets look slightly different. Yet, the start of every journey is the same. Assessing the carbon footprint of a business is key to developing a plan on minimizing carbon footprint. Where emissions are produced within operations helps guide a framework of changes to implement throughout a business. Inexpensive carbon accounting software can help identify this.
Initial Cost: A problem many leaders face is focusing on the short-term costs. PWC surveyed investors and 75% of respondents thought that companies should address ESG issues and concerns even if there are short-term costs. The costs of implementation and resources should not demotivate small businesses from achieving long term success. Over time your business may even save money through energy efficiency and waste minimization initiatives. In the long run, your brand's dedication to protecting the planet will enhance your image and increase trust with stakeholders.
Lack of Sustainability Culture: As a small business, the priority of sustainability may not be at the top for employees. In an MIT Sloan management review and report, 44% of employees surveyed felt that no training was a major or moderate obstacle towards progress. As stakeholders within your small business, educating employees on the value of ESG will incentivize them to participate. Without a proper understanding of the reason behind new initiatives, employees will not feel motivated to be a part of your goals.
Using Resources to Guide Your Decarbonization Journey
To find solutions to these challenges that arise, small business leaders must take action by using available resources. Leaders should have an understanding of ESG in order to effectively implement a plan to reduce their carbon footprint. Studies for businesses are published frequently and accessible through research. ESG is at the forefront of conversations and you do not want to be left out. Prepare your sustainability game plan and tackle climate change today.
Small business owners everywhere face these struggles, which is why RyeStrategy aims to be a supportive partner through affordable carbon footprint and customized carbon accounting services for each small business. Unlike costly alternatives, our mission is to provide sustainability software and services for SMEs at a very reasonable price. We can help you create the plan that best aligns with your company's goals and vision. Through each challenge you face throughout your decarbonization journey, RyeStrategy will be there to offer guidance and help.
Learn about our affordable carbon footprint solutions for small and medium-sized businesses
Book a free strategy session to discuss your climate goals with a sustainability manager.
Learn about the benefits of taking climate action for your small business
About RyeStrategy
Based in Seattle, RyeStrategy is a CDP-accredited, mission-oriented company specialized in carbon accounting, mitigation coaching, and climate disclosure solutions for organizations at any point in their sustainability journey. Learn how RyeStrategy helped Salesforce, Ideascale, and Wazoku achieve their sustainability goals.
From exhaustive carbon footprinting and mitigation coaching, to setting science-based targets and reporting climate data to CDP, SBTi or custom reporting platforms, RyeStrategy acts as a hands-on extension of the team, custom-tailoring services to fulfill climate disclosure requirements easily and accurately.
Meet with a sustainability specialist to learn more about RyeStrategy solutions.
