Entrepreneurs Going Green: Cost effective & sustainable business opportunities
Increases in globalization and technological innovation have been causing a large population of entrepreneurs to take advantage of business opportunities all over the world. Over the past 10 years, there has been an increase in foreign investment and a larger percentage of businesses being started and reorganized. Now that the wave has begun to slow, business opportunities are most likely found within socially oriented trends, like “going green.” The current climate is ideal for entrepreneurs to enter the green industry and take advantage of new, untouched opportunities. With the government support and the encouragement of society, green businesses will be able to offer cost effective products and services. We are in a time where eco-friendly businesses are valued by many and provide a needed resource.
There are a significant amount of resources currently available which were not available in the past, because of the internet. This is especially true for entrepreneurs who are interested in eco-friendly business opportunities. There are a number of websites that provide good sources for promoting environmentally friendly opportunities, like www.greenoppotrunities.org and www.environmentalleader.com and there are also articles from all over the world about certain environmental needs and ideas. The increase in social networking websites, like Facebook and Twitter, also allow for the ability to do fairly inexpensive industry and market research. There are also many books and magazines, which can be found in any bookstore, that focus on the opportunities available to green business owners and the unexplored industries that have room to be more environmentally friendly.
Using waste products to produce other saleable items offers a viable resource not thought of in the past. There are many waste products that can be recycled such as plastics, paper and cardboards as well as animal waste that can provide other products or can be used for energy production. Although we have found ways to recycle many of these products, there are many items that are taken directly to a landfill. The increased cost of fuel and energy, paired with the rising cost of disposal and a decrease in the land available for landfills, there are a large number of opportunities for creativity and innovation. Services that can find ways to recycle these products or manufacturing facilities that find ways to use these products will have a definite advantage over their competitors. These untouched waste products are the perfect opportunity for entrepreneurs who want to find a new industry or market to start their business.
Although there is much competition over almost all markets of the world, consumers show a definite preference for environmentally friendly businesses. The majority of today’s consumers prefer to buy products that are eco-friendly, which creates a climate with a demand for eco-friendly businesses. Current statistics state that fifty percent of consumers imagined the green store would be more comfortable to shop at than the non-green alternative stores. The trend also includes consumers as employees wanting to benefit from the eco-friendly environment and the job security that these new business offer. Eighty one percent of employees in the United States would prefer working for a company that “has a good reputation for environmental responsibility.” This research depicts an atmosphere supported by a great number of consumers and employees, which is the healthiest possible condition for environmental businesses to quickly prosper and maintain success.
Consumer’s interest to be environmentally responsible also provides an incentive for corporations and governments to provide support for financing, investing, and cooperation. In the automobile industry the General Motors Company attempted to rebrand itself with a new design named “Volt” but Toyota is ahead of the game with their product the “Prius” which recently announced their new solar technology. Companies have the opportunity to apply to receive a variety of advantages from the government as well. There are grants, loans, and preferences currently available for green businesses. In April of 2009 on Earth Day, President Barack Obama declared that developing renewable energy is crucial and his administration will for the first time lease federal lands and waters for projects to generate electricity from wind and water.
There are many reasons to be a green entrepreneur, but most importantly the increasing trend is a solid base for a very successful business opportunity. Society has triggered the green movement, which has recently been supported by governments and is waiting for businesses to take advantage. With the available resources and support, environmental companies will be very cost-effective solutions that should last for a significant amount of time. Entrepreneurs should take advantage of these opportunities soon to be the first in their industry or market and get the full reward for their innovation an ability to follow the current trends.
