Why Embracing the Circular Economy Concept is Beneficial For Business Owners
Updated: Sep 8, 2020
A recent study found that the recycling rate in the United States is around 35%. Getting this rate to around 75% would be the environmental equivalent of removing approximately 50 million vehicles from American roadways. If you are an eco-conscious business owner, you need to find a way to both increase profitability while reducing the impact your company has on the environment.
The best way to do this is by embracing the concept of a circular economy. In short, this concept involves reducing waste and reusing various resources to avoid putting a strain on the environment. Embracing the circular economy is beneficial for a number of reasons, and here are some of them.
Reducing Costs and Enhancing Growth
Most newcomers to the world of production are surprised to learn just how expensive it is to manufacture goods for consumption by the general public. Not only will you need to use resources to build your product, but you also have to use them to develop packaging for it. Using all new resources during this production process is not only bad for the environment, but it can be very expensive as well. This is why you need to embrace the concept of using recycled materials during this manufacturing project.
Companies like Avangard Innovative offer a number of solutions designed to help the environment and save business owners money. Their Natura PCR is a program that transforms end of life packaging into reusable pellets that can be used for new raw materials. By using a program like this, you can reduce the cost of your products and their packaging.
The Resilience Factor
When coming up with an idea for a new business venture, you have to think about long-term potential. If you are manufacturing a product with brand-new resources, it is only a matter of time before you are faced with shortages and price hikes. Rather than allowing your new business venture to go under due to a lack of new resources, you need to use recycled items instead.
There are a number of companies that used recycled materials to produce items to sell to the general public. These companies are able to keep their operation going because the bulk of their production comes from recycled items that are always available. Having a virtually infinite amount of recyclable resources to use for production purposes will make your business both more resilient and profitable.
Attracting Eco-Conscious Consumers
Another benefit that comes with embracing a circular economy is the vast number of eco-conscious consumers; it allows you to connect with. Many modern consumers do thorough research about a company’s production and recycling processes before using them. When consumers research your business, you want them to see how passionate you are about recycling. With a commitment to eco-friendly business practices, you should have no problem growing your customer base.
The Circular Economy is Waiting For You!
Do you need help developing a plan of attack regarding recycling and reusing resources? If so, contact the team at Avangard Innovative to learn more about what we offer.