Most business owners agree that the biggest challenge they are facing right now is how to remain profitable. One of the best ways to do this is to find ways to cut costs and one of the first places to look for this is with your waste. Many businesses find that one of the major places they are losing money is through their waste management strategy and not emphasizing recycling efforts.
If your business is located in or near Cincinnati, let Orcutt & Co help manage your finances. We can help you find ways to cut costs and maximize profits. We can manage your accounting and bookkeeping, payroll, and even help with tax planning.
In this article, we’ll explain how implementing a recycling program at your business can reduce costs and maximize profits.
4 Ways Recycling Can Help
Below, we will discuss 4 ways that recycling can help your bottom line:
Reduces costs associated with waste management
Your trash disposal costs depend on how much trash you have and how often you need it picked up. A recycling program will reduce the amount of trash you are throwing out, which reduces the frequency of trash pickup.
Reusable products have longer life cycles
Instead of spending money on disposable items, such as plastic/paper cups, paper plates, plasticware, etc, spend a little more up-front on reusable items. This will save a lot of money in the long run.
In addition, instead of purchasing new supplies every time you need to ship something, consider re-using boxes from shipments you have received. If you have shredded papers, use that for packing material.
Make money by selling recyclables
In addition to saving your business money, recycling can also help you make money by selling some of the recyclables to recycling facilities. Some of these items include:
- Paper waste
Avoid fines by remaining compliant
The rules and regulations associated with commercial waste-management are always changing. The best way to ensure that you remain compliant with these regulations and avoid being fined is by recycling.
These things usually happen locally and only impact businesses in the area. If you are not recycling, you could be violating a variety of regulations, including:
- Disposal of hazardous waste
- Disposal of electronics
- Recycling laws/landfill bans
By taking the time to make sorting and recycling of waste a priority, you reduce your risk of violating local regulations for waste disposal.
Recycle to Save Money & Maximize Profits
Recycling is not only good for the environment, it can also be good for your business because it reduces costs in several areas- and can even help you make money.
Let Orcutt & Co manage your business finances. We have been working with small businesses in the Cincinnati area for many years and want to grow alongside your own small business.