Posted at 9:28 AM
It’s important to recognize that consumers are becoming more environmentally conscious. Eco-friendly practices may seem costly but can serve as a great investment for future growth in businesses as it reduces costs and creates happier customers.
Business.gov provides suggestions and information from fellow business owners as well as industry and government experts. Linked to the site, you can find a Green Business Guide that offers tons of tips on how to pursue and maintain a green business. Recommendations include how to reduce energy costs, how green technology develops energy efficient upgrades, what kinds tax credits there are to green technology developments, and more. By cutting down on expenses and becoming more consumer-friendly, your business can open up opportunities for growth.
Energy efficient guide
Save energy costs, find energy saving tips, and get information on incentives for making energy efficient upgrades. The guide can lead you to recommendations on cost savings, opportunities for energy efficient upgrades, steps towards sustainable business practices, and more.
Tax credits to green technology development
A tax credit can provide significant savings. It reduces the amount of income tax you have to pay. Unlike a deduction, which reduces the amount of income subject to tax, a tax credit directly reduces the tax itself.
Green technology innovation grants
A few federal programs provide grants to small firms engaged in scientific research and development (R&D). The federal government’s SBIR (Small Business Innovation Research) and STTR (Small Business Technology Transfer) programs award a specific percentage of federal R&D funds to qualified small businesses. SBIR/STTR programs encourage small firms to undertake scientific research that helps meet federal R&D objectives, and have high potential for commercialization if successful.