As global warming slowly creeps back into relevance as a topic of discussion, a number of businesses are shifting towards a more eco-friendly approach, and apart from saving the planet, it’s got a number of other benefits.
However, remaining eco-friendly can be quite costly, especially if you’re a small business owner just starting out on the market, and oftentimes a business will forego this nature-oriented approach for the sake of generating revenue.
While this can definitely boost the business’s success and allow it to grow, it’s an irrational way of conducting your business, as the longevity and safety of this planet are also what warrant your business’s existence.
Thankfully, the government and several NGOs offer grants and funding to businesses that do decide to be eco-friendly, and we’ll go over some of these funding options in order to get you on board with the “go green” movement.
What is an eco-friendly business?
As a general idea, a business that labels itself as eco-friendly is one that’s looking to reduce its impact on the environment down to a minuscule amount, allowing nature to prosper and take its natural course.
Other times, this means that a business is sustainable by nature or incorporates sustainability in what they have to offer, usually referring to the materials they use or the end product not being a pollutant.
This also led to some major changes in the lending sector as well, with investment firms taking interest in eco-friendly businesses across.
In fact, lenders are now looking at a company’s ESG data and their vulnerability to climate change risks before approving them for loans, meaning that an eco-friendly company is much more likely to receive funding than one that isn’t adapting to the future that climate change may bring.
Seeing as we’re talking about climate change, it’s only natural to mention the US Environmental Protection Agency, which has been providing grants for businesses that care for mother nature for years.
They sponsor a number of different programs that offer funding to green businesses and initiatives across the US, including programs that focus on clean air, community-wide environmental issues, and biofuel programs.
However, getting a grant through one of these EPA-sponsored programs is pretty difficult due to the amount of competition on the market, and you’ll want to apply for one as soon as possible.
That being said, the qualifications for EPA grants are incredibly strict, and you’ll have to meet a series of criteria to even be considered for a grant, let alone picked in a group of highly-effective businesses and initiatives that take the eco-friendly approach very seriously.
Look through the requirements on the agency’s official website and weigh whether your business can make use of this grant or not.
Department of Energy grant
If your business is utilizing certain clean energy sources, you may be able to receive some funding for that extra push you need from the Department of Energy, which has fought for the United States that runs on clean and effective energy sources.
The DOE sponsors more than a few loaning programs, there being over $40 million in available funding at a time, all of it intended to help construct and maintain massive eco-friendly infrastructural projects in the US.
The department’s Loan Program Office encourages anyone looking to make use of these initiatives to apply through their program, which can be done by reaching out to a DOE representative who will familiarize you with all the qualifications as well as the application process itself.
You can make your search easier by narrowing your options down to those that focus on the type of business your company conducts, and between the Office of Science, Office of Fossil Energy, Office of Renewable Energy, and many more, your options are practically limitless.
Finally, when the government just isn’t cutting it, it’s time to turn to the people that help keep this country alive, and you’ll find that as long as your cause is noble and working towards a greater good, Americans are going to be willing to help.
Websites like GoFundMe and Kickstarter are great ways to gather funding for your eco-friendly business initiative, and if you’re able to captivate anyone who cares about the environment even in the slightest, you’ll receive some extra money to turn your dream into a reality.
As long as you’re sticking to your preferred platform’s rules, any business is allowed to make a crowdfunding page, and as long as your goal isn’t met, people will continue donating their hard-earned money in order to help you start making your own.
This means that you’ll receive the most from the people that are actually passionate about climate change and what businesses can do to help avert it, even for a bit.
Find the right way to approach these people and do something to help save this planet.