Nowadays, it pays for businesses to actively support a cause. In order to be successful, a company, big or small, must learn to be sustainable. Being an eco-friendly business not only helps grow your brand, but it also gives the opportunity to do good.
If you are a business owner, it is important to apply the same concept to your operations. In this article, we discuss what it means to run a sustainable business in the Philippines. We also explain why it is crucial for small business owners to learn.
Sustainable businesses in the Philippines focus on making positive and relevant impacts on the economy, environment, and society by making smart entrepreneurial decisions. In addition to doing good for the community as a whole, having a sustainable slant to your operations can also shape your market’s relationship with your business.
According to the Kantar World Panel, about 75 percent of Filipino shoppers now prefer eco-friendly businesses. They actively assess brands, big or small, based on the way the businesses manage their impacts on the environment.
Moreover, 54 percent of Filipino households are now actively pursuing and considering eco-friendly habits. Also, 74 percent say that they are willing to support brands that advocate a sustainable lifestyle.
That means more consumers have adapted to an environmentally conscious type of lifestyle. As a result, they expect their valued brands to follow.
It is no longer simply a game of how good or well-priced your product is. For a business to get and retain customers, they need to weave the concept of sustainability into its core.
In truth, the country has a long way to go when it comes to plastic use. According to the World Bank, the plastic industry is a vital part of the economy. That is because it offers low-cost options to both businesses and consumers.
On the other hand, the Philippines is considered as one of the largest contributors of plastic waste. This is why it has become imperative for the country to undergo a gradual shifting into more sustainable practices.
In 2018, the Securities and Exchange Commission required publicly listed companies to state sustainability reports. This should encourage companies to assess how aligned they are to the United Nations Sustainable Development Goals for 2030.
On a much smaller scale, various locales have started banning plastic use. Mega corporations are now going for alternative packaging to plastics. Slowly, even smaller-sized businesses have started to adopt the same practices, showing a huge promise for the country in the future.
With the current shifting of consumer priorities, being an eco-friendly business appeals to your target consumers by aligning with their expectations. A bigger benefit is the ability to help the environment as a responsible stakeholder in the community.
However, there exists the misconception that following sustainable practices costs an arm and a leg.
In truth, even small businesses can contribute to building a more sustainable society. The key is to make smart choices about your operations.
That is exactly what Oikos Sustainable Solutions wants to help you with. As a brand, we have made it a mission to enable small businesses to make greener choices. We provide alternative packaging to plastic that does not compromise quality, usability, and budget.
Anyone can be kinder to the environment if they are given access to the right tools. That is why our products offer biodegradable packaging solutions that are plant-based, plastic-free, and fully compostable.
We would love to help you build an eco-friendly business. Check out our products today.