Skip to main content
  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
Hiscox Insurance
Menu Toggle
  • Home
  • Small Business Insurance Small Business Insurance Toggle Menu
    Protect your business, plan for the unexpected, and help your business grow.
    • Top Coverages

      • General Liability Insurance

        The basic protection for claims against your business.

      • Errors and Omissions

        Protection against claims of negligence

      • Professional Liability

        Protection for specific risks in your field.

      • Business Owners Policy

        General Liability plus coverage for property.

      • Short-Term Liability Insurance

        Purchase coverage for a specific period of time.

      • Cyber Security Insurance

        Protection from cyber-related security risks.

      • Workers Compensation

        Protection from work-related illness or injury.

      • More Coverages

        Umbrella, Auto, Directors and Officers, and more

    • Coverage for 180+ Professions

      • Architects & Engineering
      • Beauty
      • Contractors
      • Consulting/Freelancing
      • IT/Technology
      • Landscapers
      • Marketing
      • View All Industries
    • Coverage for 49 States

      • View All States

    Retrieve Your Saved Quote

    Small Business Insurance Main Page

  • Why Hiscox Why Hiscox Toggle Menu
    With a single focus on Small Business Insurance, we provide fast, customized coverage just for you.
      • About Us
      • Customer Stories
      • Ratings & Reviews
      • Our Brand
      • Newsroom

    About Hiscox Main Page

  • Resources Resources Toggle Menu
    Insights and information to empower you and your business.
    • Blog
      • Start Your Business
      • Grow Your Business
      • Protect Your Business
      • Celebrate Courage
      • Business Insurance 101
      • Research & Insights
      • Partner Services
      • Insurance Glossary
      • Profit Calculator
      • Business Templates

    Resources Main Page

  • Policy Management Policy Management Toggle Menu
    We make it easy for policy-holders to make changes, access documents, and report claims.
    • Manage Your Policy Online

      • Hiscox Policy Management

        • Change Business Address
        • Get an ACORD Certificate
        • Get a Certificate of Insurance
        • Issue an ACORD for an Additional Insured
        • Request Policy Documents
        • And more

    • Claims

      • Claims Center
      • Report a Claim
      • Claims FAQs
      • Claims Customer Reviews
      • Cyber Vendor Services
      • Refer a friend

    If you purchased coverage from a broker and would like to update or change your policy, please contact your broker.

    Policy Management Main Page

  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
  • About
  • Get a Quote Get a Quote
  • About
  • Get a Quote Get a Quote
  • Blog Home
    Start Your Business
    Grow Your Business
    Protect Your Business
    Celebrate Courage
    Search

    Small Business Insider

    Sign up to get the latest small business tips delivered right to your inbox.
    Close Close
    Grow Your Business
    Collection of hands in a circle holding soil with plants

    Why you should become an environmentally friendly company

    Tools & Templates | Management
    By: Hiscox Blog

    Share Image

    Embed Image

    Copy

    Share Article:

    For small businesses, it's easy being green

    Small businesses thrive on efficiency. That's always been true with respect to financial decisions and business processes, but it's become increasingly important in environmental terms as well. Environment-friendly companies enjoy a host of benefits while also making a positive impact on their communities. Going green may seem like a short-term trend, but growing environmental concerns and the broad success of green businesses in recent years suggest that most companies would do well to invest more time and effort into sustainability initiatives.

    Leadership in sustainability drives business success

    Environmental and social responsibility has become a deep concern for many people in recent years. Consumers are increasingly voting with their wallets, preferring to seek out goods and services from companies that they believe align with their values. In fact, nearly half of U.S. consumers make purchasing decisions at least partly based on environmental factors. Additionally, 66 percent of global consumers are willing to pay more for products from companies they believe are environmentally responsible.

    Employees, too, often prefer to support sustainable, eco-friendly organizations. Going green in business has become a great way to attract and retain more top talent. Environmental concerns have become some of the most important considerations for prospective employees. Linking your business to these causes also engenders more excitement among employees and boosts engagement. Of course, embracing sustainability also serves as a powerful example for others to follow.

    Saving green by going green

    Going green in business also offers a number of more practical and tangible benefits. Perhaps the greatest payoff is in terms of reduced waste and improved efficiency. Whether it's cutting down on energy use or reducing material waste, a more efficient business is a more profitable one. According to the Environmental Protection Agency, some businesses can save up to 30 percent on utility costs alone simply by implementing a few free or low-cost measures. Greater investments often lead to even greater returns.

    Environmental initiatives can pay off in other ways as well. Federal, state and local governments frequently offer tax incentives to encourage investment in green technologies. Completing energy-efficient renovations and making other upgrades to your facilities may also allow you to take deductions on your taxes. Energy-efficient properties also tend to have more favorable financing terms. For instance, facilities that bear the ENERGY STAR certification typically have lower interest rates by 30 to 35 basis points. According to some studies, a greener workplace can even boost employee productivity by up to 16 percent.

    Ways of being an environmentally friendly company

    The best news of all is that there are many ways of going green. Many of the simplest ways to boost your sustainability revolve around reducing unnecessary energy usage. Businesses are notorious energy-wasters, but cutting your consumption doesn't require a major effort. Considering that small businesses in the United States spend more than $60 billion each year on utility bills, there are abundant opportunities for savings. Here are a few convenient ways your business can save energy without incurring significant expenses:

    • Replace all applicable lighting in your facilities with compact fluorescent light bulbs.
    • Keep heating and cooling equipment well-maintained and change air filters regularly.
    • Use programmable thermostats and occupant sensors to reduce energy waste.
    • Regularly evaluate energy use to identify opportunities for improvement.

    Another great way to commit to sustainability is to reduce your material waste. Paper is among the most common waste sources in the business world. You can reduce your environmental impact by seeking out paper products made only from postconsumer waste. These products are composed entirely of recycled paper and require substantially less energy and water to produce. Of course, your business should also make an effort to recycle as much waste as possible.

    A more eco-friendly workforce

    In addition to reducing the amount of waste your company produces, it's also important to ensure that your employees themselves are working in a sustainable way. One way to cultivate a more eco-friendly workforce is to encourage the use of alternative transportation. Offering small incentives to employees who choose public transportation, carpooling or biking is a great way to make an environmental impact by reducing the number of cars on the road each day.

    It's also worth considering whether all of your employees even need to be physically present to perform their work. Along with improving work-life balance and leading to greater productivity on average, allowing employees to telecommute can drastically slash gas consumption and greenhouse gas emissions. As an example, the U.S. Patent Office runs a telework program for some of its employees and tracks the results. In 2017 alone, they found that allowing 6,438 employees to work from home four or five days per week saved more than $5.5 million in gas and reduced emissions by more than 37,500 tons per year.

    Become an eco-friendly company

    Making a positive impact and helping protect the environment for everyone is certainly its own reward. There are many other reasons to consider going green. Environment-friendly companies save money, have greater productivity, enjoy competitive advantages and set a positive example through their actions. With so many easy ways of going green, there's simply no reason not to adopt environmental responsibility as a core part of your business strategy.

    Protect Your Business

    Protect the business you’ve worked so hard to build. Get a fast, free quote and your business could be covered today.

    Get a Quote
    Get a Quote
    Subscribe to our newsletter

    Related Articles

    4 Min Read
    Wood blocks with arrows on them arranged in stairs formation. Strategic planning for business.

    Strategic planning for your small business: What it is and how to do it

    Management

    A strategic plan is different from a business plan. A strategic plan is more dynamic and will change and grow with your business. Here are 4 Steps to creating a strategic plan for your business. Read More

    5 Min Read
    successful business partnership. Wooden blocks with people icon on blue background.

    A 7-point checklist for a successful business partnership 

    Tools & Templates | Management

    What makes a successful business partnership? Here are 7 things to consider when starting a partnership business. Read More

    5 Min Read
    Scissors cutting a dollar bill. Business expenses and budget.

    10 Cost-cutting ideas to reduce business expenses now

    Finances | Management

    The key to business growth requires the right balance between increasing sales and cutting unnecessary costs. Here are 10 tactics to help you reduce business expenses now. Read More


    We’re here to help.
    We provide tailored insurance for the specific risks you face, so you can take the right risks to grow your business.
    Get a Quote
    Get a Quote
    Blog, Footer2021
    • What We Cover
      • Business Insurance
      • General Liability Insurance
      • Professional Liability Insurance
      • Errors and Omissions
      • Cyber Security Insurance
      • Workers Compensation
      • Other Coverage
    • Who We Cover
      • Small Business Owners
      • LLC
      • Side Hustle
      • Contractors
      • Home Businesses
      • 180+ Professions
    • For Our Customers
      • Refer a Friend Program
      • Covid-19 Response
      • Claims Center
    • For Business Owners
      • Save with our Partners
      • Hiscox Podcast for Business
    • About Hiscox
      • About Us
      • Careers
      • Contact Us
      • Hiscox Corporate
      • Investors
      • Foundation
      • Newsroom
      • We Stand Together
      • Affiliate Partner Program
    Blog, Footer, 2nd Row (new)
    • Accessibility
    • Site Map
    • Privacy Policy
    • Terms of Use
    • Legal Notices
    • Español

    Feefo Reviews: Hiscox rated 4.8/5 with 2,032 reviews between January 31, 2020 - January 21, 2021

    © 2021 Hiscox Inc. All rights reserved. Underwritten by Hiscox Insurance Company Inc., 104 South Michigan Avenue, Suite 600, Chicago, IL 60603. As of December 31, 2019, HICI had admitted assets of $778,266,779 and policyholders surplus of $215,333,986. Total liabilities were $562,932,793 (inclusive of $236,274,591 of loss reserves) and paid up capital stock was $4,242,000.

    icon-facebook
    icon-youtube
    icon-twitter
    icon-linkedin