ECOpreneurship and You: How to Grow a Green Business

Hannah4Change.org is passionate about corporate sustainability. Hopefully, this resource guide about starting an eco-friendly business will inspire you to practice more sustainability as an entrepreneur. 

You’ve heard of entrepreneurs, but have you ever heard of an ECOpreneur? The major difference between the two is that an ECOpreneur is very conscious of how their business practices are impacting the environment. They may even be attempting to solve a pressing environmental issue with their new business. Here’s how you can get an ECObusiness started. 

Every ECObusiness Starts With a Plan

No matter how exciting your idea for a green business may be, you need a proper plan. That plan should encompass a few essential steps, including: 

• Every business plan should begin with an executive summary. This is where you will outline how your business will serve customers and what problems it will solve.  If you’re not sure what type of business you would like to start, check out these examples of successful ECObusinesses, like selling upcycled or used goods. 
• You will also need to decide what sort of entity to set up for your ECObusiness. For example, many Georgia ECOpreneurs create LLCs for their businesses online. 
• The last section of your business plan should outline financials for your business but we’ll cover this more in the next section. 

You’ll Need to Find Ethical Funding

Now that you have a plan for your ECObusiness, it’s time to start looking for the capital you need to get it up and running. For this step, you will have one of a few options: 

• Self-funding your startup is always an option. In fact, there are several women business owners who have bootstrapped their way to business success. 
• Another viable path is to crowdsource your startup funds. This can also be a phenomenal way to get the word out about your eco-friendly mission and purpose. 
• You could also use your business plan to apply for a small business loan. Just keep in mind that most major banks also invest in companies that harm the environment. 
• Apply for an industry-specific grant. For example, Fashion for Good offers grants to ECOpreneurs who start fashion and clothing labels using sustainable practices. 

Transparency is Important for ECOpreneurs

Here’s the thing about being an ECOpreneur: Your customers need to be able to trust you. You need to show your commitment to the environment every day. These actions can help you: 

• You need a plan for staying committed to sustainability. Take a look at your current situation, strategize for the future, and take action. Remember, every move helps! 
• Once you have goals worked out, remember to talk about them in your content. Every business needs to have content online and on social media to grow and thrive. 
• If you make a mistake, admit to it. The worst thing you can do as an entrepreneur is to try and hide your mistakes, especially if you are trying to run an ethical business. 
• Finally, don’t forget to support other sustainable and ethical businesses and causes with your profits. For instance, you could use those funds to help BIPOC-owned businesses. 

If you’re an entrepreneur who is passionate about the environment, why not become an ECOpreneur instead? Then you will have the peace of mind of knowing that your startup is making a positive difference in the world. You’ll be making a difference, too — for members of your current community and, of course, for future generations. 

Photo Credit: Pexels