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The success of a company depends on a wide range of aspects. Capital, market research, having a solid business plan and setting clear goals, understanding customers’ needs, or attracting and retaining the right talent are just some of the key factors that determine a company’s trajectory and growth potential. And of course, making smart financial decisions also plays an essential role in the equation.
Money represents the lifeblood of any company, which is why financial management is one of the most important aspects of running a business. Efficient and responsible use of funds allows firms to improve capital efficiency, ensure the proper distribution of resources, maintain good cash flow, identify growth opportunities and optimize profit.
When it comes to budget allocation, an increasing number of companies around the world are choosing to direct part of their funds toward waste management and recycling solutions, more specifically recycling equipment. That makes perfect sense considering that most companies generate large volumes of waste through the operations they carry out and consumers these days are expecting them to take adequate action in this respect.
But is investing in recycling equipment a good idea for your company? Most business experts agree it’s a smart move and they also provide compelling arguments in this respect.
Protecting the environment
Waste reduction and environmental protection should serve as the biggest incentive for companies to invest in recycling equipment. A higher recycling rate means less waste going to landfills and being incinerated and fewer carbon emissions polluting the atmosphere.
Depending on the nature of their activity and the waste they produce, there are many types of recycling machines that can help businesses improve their waste management strategies and reduce their carbon footprint. One would use crushers for grinding materials such as plastic and glass, and ideally a baler for cardboard waste.
Many would argue that businesses, especially large organizations and corporations, are only interested in making a profit and couldn’t care less about the environment. However, in today’s socioeconomic landscape, the two are inextricably linked. Companies can’t afford not to care about the planet because their customers care and meeting clients’ needs and demands is key to boosting retention and driving profit.
In recent years, concerns over climate change and environmental changes caused by human activities have been shaping people’s buying habits. This is not a phenomenon pertaining only to first-world countries. Even in less developed nations, consumers are increasingly aware of the environmental issues that our planet is facing today and business sustainability seems to have a significant influence on their purchase decisions.
Besides, if companies don’t take the initiative and fight for the environment, there might come a time when these issues could prevent them from running their activity altogether. The health of the planet is a matter that concerns us all because we all depend on it. Therefore, every action taken in this direction, including the purchase of recycling equipment, is going to benefit your business in the long run.
Saving time, space and money
Apart from the long-term benefits, there are other more direct advantages of using recycling equipment in your company. Machines like balers and compactors can make a huge difference to the way you handle the waste your business produces, helping you save time, effort and money.
For starters, these gears help you compress recyclable materials such as plastic or cardboard into small and compact bales that can be stored away until they are collected by waste service providers and taken to recycling facilities. Therefore, they’ll take up less space and you’ll be able to keep your company premises tidy while also reducing the risk of on-site accidents. You also won’t have to put as much effort into moving waste materials around since the bales are easy to transport and store and require less manual handling.
Without all the bulky waste cramming your business, you’ll require less frequent waste collection which is going to save you a lot of money over time. In addition, sending more waste to recycling instead of landfill is going to reduce the landfill tax costs for your company and thus boost your savings.
Creating an additional revenue stream
Some entrepreneurs might think there is no point in buying recycling equipment as this represents an extra expense and they could use the money elsewhere. However, even if the upfront costs might be intimidating for some, recycling machines should be regarded not as an expense but as an investment that can benefit the company’s bottom line.
These pieces of equipment allow businesses to create value from waste materials. For example, plastic, cardboard and aluminium bales can be collected and sold to recycling companies that use them to create new products. This means you can partner up with recycling facilities in your area and turn your waste into money.
You’ll be able to reduce your company’s waste and reinvest the money you earn by selling it into your facility, while other firms can use these waste materials to make new end products, which are also in high demand on the market due to their low carbon footprint, and sell them to consumers. So, everyone has something to gain from it.
If you look at the bigger picture, you also support the local economy by generating new revenue streams from waste materials and contribute to the creation of new opportunities for other companies in your region.
Wrapping up
Purchasing in-house recycling equipment might not be the first thing that comes to mind when you think about investing in your business. However, it’s worth taking this option into consideration for all the reasons mentioned above and more. Alternatively, if you think that purchasing recycling machines might be too big of an expense for you and you want to play it safe, it’s also possible to rent these types of gear instead and take advantage of the benefits they provide at a lower cost.
