Four ways to reduce waste to save your business money

Over two third (69%) of UK decision-makers surveyed say sustainability is important for their business, while 61% consider the circular economy important. Nearly 9 in 10 (89%) consider waste management important in becoming a sustainable business. But, despite these good intentions, only 53% of UK businesses have their recycling collected.  

 The main barrier to being more sustainable is ‘cost’ say over a third (36%) of SME business decision makers surveyed in recent research from sustainable waste management firm Biffa with a survey conducted by the YouGov analysis institute. At a time when SMEs and larger businesses may be looking to save money, improving recycling strategies amid other sustainable practices goes a long way. Maxine Mayhew, Biffa’s Chief Operating Officer, has four insightful and manageable ways to curb costs.

 1.     Segregate waste streams to lower collection costs  

 Waste management sustainability services are often priced by weight. Putting all your business waste in one general waste bin will increase the weight, resulting in higher collection and management costs. So, separating out different types of waste – including heavier waste like food – into different bins can save money. Hospitality businesses particularly can economise by separating food waste, glass containers and metal containers from general waste. Currently, only 24% of businesses measure the reduction of food waste and 39%, the increase in recycling, so there’s an untapped cost-saving opportunity for many.  

 Most waste management providers will offer an auditing service to help identify the best solution for your business to manage waste efficiently, sustainably, and economically. It’s crucial to remember that waste management costs also depend on the quantity and frequency of collection.  

  2.     Find businesses who can use your waste materials  

 Consider whether another business could have a use for your waste, even if it initially seems worthless. More and more micro-businesses are looking to reuse existing unwanted, discarded, or old materials rather than source virgin materials for their products.  

 An inspiring example is Flotsam Flo. Cornish entrepreneur and Change Maker Kate Doran partnered with Biffa and local holiday parks to collect unrecyclable waste (such as wetsuits and inflatables) then give it a new lease of life as bags and purses. In adopting such an approach, your business could enable the circular economy on a local level and encourage growth for smaller organisations.   

  3.     Collaborate with suppliers and partners 

 Reducing the amount of packaging entering your business reduces the overall weight of waste that needs to be processed, in turn lowering costs. Speak to your suppliers and partners to explore ways of minimising the packaging of goods you receive. For instance, this could include using less shrink wrap. 

  4.     Seek out reusable alternatives 

 Businesses can save money on frequently purchased items by replacing them with reusable or recyclable items, in turn reducing waste. For instance, purchasing reusable items like glass tumblers will reduce the amount of single-use plastic cups needed. Or you can choose to purchase goods made from repurposed materials which will also aid the transition away from single-use. For example, shredded cardboard boxes and paper can be used to protect products when they are shipped, rather than buying new packing material.   

 It’s time to think differently about waste; you can unlock significant value by keeping materials in the circular economy. The less materials coming into your business the less you have to dispose of, the creates lighter bins and lower costs.