Eco Friendly Banking Methods for Small Businesses

Fri, Apr 6, 2012

6. Misc.

Small Business owners are always looking for ways to trim costs and fatten their bottom line. But in recent years a new concern has started to slowly make its way towards the top of the list: being green. Environmental sustainability is a buzz word in many circles, as well as a legitimate concern for everyone on the planet. Businesses are one of the biggest dangers to our environment, with all the waste created for the sake of higher profits. But small business owners are beginning to find that green initiatives don’t always come with higher costs. It is possible to save money and save the environment at the same time. And the banking methods you use for your small business are a great place to start. Here’s a look at how you can do your small business banking in a more eco friendly manner, while saving time and money in the process.

Paper-free banking. In 2012 there’s no longer any reason to use paper while banking. Those statements and checkbooks pile up, packing your filing cabinets full and ending up in landfills. Nearly every major bank offers options for online account management and paperless banking. Want to take an easy step towards environmental sustainability? Simply tell your bank you no longer want paper statements. And if you begin to manage your account online, you’ll save more than a bit of paper, you’ll save time and money too. You can transfer money, pay bills, and manage each aspect of your account with a simple click of the mouse. You’ll immediately cut down on the environmental impact of your small business, not only saving paper, but saving all the gas you’ve been using driving back and forth to the bank and the gas the post office uses delivering your bills. Not particularly interested in the environmental savings? Well, think of all the time you’ll save with your account organized. You’ll find it’s easier to handle your taxes, your payroll, and all of your various accounts by going paperless.

Green small business initiatives. Many banks around the country are doing their part to encourage green business practices, and if you do your part you’ll realize a ton of positive opportunities. Some banks only deal with green businesses, and offer discounts on products and services for those companies. Other banks set up networking opportunities between eco friendly companies, so you can put your head together with other environmentally-conscious business owners about best practices and opportunities for savings. Many green banks will also contribute to charity if you work with them instead of their competitors, so your efforts will expand simply through your choice of banks. And some of the largest banks in the company have paired their credit cards with green rewards programs, so you can do your part to lower your environmental footprint simply by spending as you normally would for your business.

Green investing. You’ve put time and energy into making your small business more eco friendly, so why not get rewarded for it? Put your money in a bank that invests in green businesses. After creating the relationship there, perhaps you’ll find yourself a new investor. And for your company or personal investments, consider using a broker that also invests in green business. You may have to go with a smaller bank or investment firm, but you’ll receive more personal attention, while doubling your environmental efforts. Remember, send no more checks in the mail and give your money management over to companies that support eco friendly businesses, and you will be doing more than your part to insure the environment is sustainable for generations to come.

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