5 Ways Sustainability Can Save Your Business Money

 

Consumers are using their spending power to effect change. They are purchasing products and services that are created sustainably. Your company can save money by adopting these sustainable practices into daily operations.

 

Electronic recycling

Instead of throwing away your old electronics when upgrading your business, you can:

 

  • Find a company with a buyback program and receive cash for your old products
  • Donate old electronics to 501(c)(3) organizations as a charitable contribution and get a tax break
  • Recycle toner cartridges at stores such as Office Max, Walmart, Walgreens, and Best Buy

 

Lower utility bills

Implementing LED lights is one of the easiest ways to slash your electric bill. If the bulbs are used 8 hours a day, they can last up to 17 years! This will reduce your spending and waste production with its long life span.

 

Money is being lost every time someone flushes a toilet or washes their hands at your business. Consider purchasing low-flow water fixtures for your sinks and toilets. Less water is being wasted while the pressure levels remain the same as a traditional appliance.

 

Commute efficiently

Do you provide your employees with company vehicles? To efficiently commute keep these tips in mind:

 

  • Provide a well-planned path for employees to take their routes on to reduce the amount of gas the cars are using
  • Find vehicles with efficient gas mileage
  • Consider investing in an electric or hybrid cars

 

If your business doesn’t supply company cars, encourage employees to carpool, walk, bike, or use public transportation to get to work.

 

Shop smart

By resisting the urge to purchase the newest products or services, you can reduce the amount of waste generated by your business. If your business purchases do not add value to the company, don’t buy them. Try setting a budget if you are still struggling with this. PL Consulting can help you with budgeting and planning if you need it.

 

Provide reusable products

Offer your customers and employees reusable products. This creates stronger relationships with the people that value sustainability. Consider making these changes:

 

  • Install water dispensing systems instead of one-time-use water bottles
  • Provide reusable bags instead of plastic bags
  • Give away reusable promotional products instead of paper products

 

Save your business money

Saving money while running a sustainable business isn’t as difficult as it seems and has many advantages. Consumers are more likely to support your business. The community will be less polluted. It just takes a few adjustments, and over time your actions will become habits.

 

PL Consulting can help with saving your business even more money through budget planning and forecasting. This can also help when purchasing pricy sustainable products that will generate revenue in the long run.

 

Serving the Baltimore area for several years, we are dedicated to providing customized service to fit each one of our client’s unique needs.

 

Please contact us at (410)-764-3731 or at https://www.plcfo.com/contact/ for questions or to book an appointment.

 

CARES Act Resources for Small Businesses

 

“Every business owner needs to be taking advantage of at least one of these programs”

 

COVID-19 has had an extreme impact on small businesses. We understand this is a tough time for many people. At PL Consulting, we are running at full capacity while taking safety precautions to keep our staff, clients, and community safe. We are here to get you through this abnormal situation. If you have any questions, please reach out to us. We have already submitted 20+ applications for our clients and can help you too. 

 

CARES ACT

 

The CARES Act was signed into law by President Trump on March 27th, 2020. The Act is broad in scope and can be confusing. In the links below we break down everything you need to know about it. 

 

CARES ACT Information: https://ecs.page.link/1ASqM

 

More information on the CARES Act: https://ecs.page.link/bXmdC

 

Economic Injury Disaster Loans

 

Economic Injury Disaster Loans (EIDL) are available to businesses suffering from COVID-19 related financial hardship. This can cover up to $2M in operating expenses. These loans have favorable repayment terms and an up-front grant of $10K. The grant portion of the loan should be received within three days after applying with the SBA. The application for this loan can be submitted online directly with the SBA.

 

EIDL Application: https://covid19relief.sba.gov/#/

 

Payment Protection Program

 

This information we compiled about the Payment Protection Program (PPP) will help determine your business’s eligibility. We also answer questions about the amount businesses are eligible for and the circumstances for loan forgiveness. More information on the loan is provided in the links below. 

 

PPP Information: https://ecs.page.link/4s7qD

 

PPP Application: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf

 

Payroll Tax Deferral

 

50% of Social Security tax payments from 3/27/19-1/1/21 can be deferred until 12/31/21. The other 50% is due by 12/31/22. This relief is not available to those who receive SBA loans.    

 

Payroll Tax Credit

 

Businesses that suspended operations or have seen a 50% decrease in revenue from the same calendar quarter of the prior year can claim a quarterly credit for the employed portion of Social Security taxes up to $5K per employee. The credit is refundable if it exceeds the total Social Security taxes otherwise payable in the quarter. This relief is not available to those who receive SBA loans.

 

Additional Resources

 

Below are some more resources you may find helpful and relevant for your small business.

 

 

Contact PL Consulting For Your Small Business Needs

 

Serving the Baltimore area for several years, we are dedicated to providing customized service to fit each one of our client’s unique needs. We understand you may still have questions about the CARES Act, so please contact us at 410-764-3731 or https://www.plcfo.com/contact/. Please be patient as we attempt to respond to all inquiries in a timely manner. You can also follow us on Facebook and LinkedIn for more updates. 

 

Managing the COVID-19 Impact as a Business

 

 

COVID-19 is impacting businesses and organizations large and small around the world. Businesses are dealing with quarantines and shut-downs, making it necessary for them to take action to protect their employees and customers while minimizing economic damage. Some of the direct business impacts we’re seeing include customers, supply chain, leadership, and the workplace.

 

Customers

 

Since most non-essential stores are closed, brick and mortar businesses are struggling with selling products or services. By delivering customer experiences that are in line with the rest of your business through social media, websites, and phone calls, you can reduce the potential negative impact and revenue loss. 

 

Customers also want to know that even though you are still in business, your workers are safe and the products that they will receive through the mail will be packaged and manufactured with safety protocols in place. 

Supply Chain

 

supply chain

 

The supply chain is especially important right now in delivering products and services quickly and securely to medical staff helping those affected by COVID-19. With that being said, businesses still have the responsibility to protect their supply chain workers and the areas they operate in. By executing a safety plan and informing all workers of it, the flow of the supply chain can continue. It is important that the plan is continuously being tested, redeveloped, and communicated to the employees.

Leadership

 

workplace

 

Having strong leadership and guidance is vital in maintaining trust. Show people that you care for your workers, the industry, and the community that you are operating in. Be transparent when deciding and communicating with them. Do something to stop the spread or help the unemployed such as:

 

  1. Donate to a local food shelter.
  2. Gift your employees with a gift card to pay for groceries.
  3. Allow your employees to work from home.
  4. Provide extra safety measures if you are still operating as normal.

Workplace

 

If your business and employees can shift to remote work, you can safely continue your business operations. This might not be the norm for some people, so here are a few tips on how to keep you and your team productive:

 

  1. Hold virtual meetings to keep some human interaction instead of talking only through emails and instant messages.
  2. Keep everyone organized and on the same page through calendar apps.
  3. Use collaboration tools to reduce the feeling of isolation in your employees and increase motivation.

PL Consulting Can Help You

 

We can help ease any stress that you or your company are having. We consider our clients part of our team. We provide full financial management services including bookkeeping, accounting, payroll, tax preparation, budgeting, and more.

 

Serving the Baltimore area for several years, we are dedicated to providing customized service to fit each one of our client’s unique needs.

 

Please don’t hesitate to contact us at (410)-764-3731 or at https://www.plcfo.com/contact/ for any questions or concerns that you may have.