The Two Largest Myths About Small Business Sustainability in the Accounting Industry are Debunked

1. Myth: Small impact on SMBs

When confronted with such a massive problem on a global scale as the climate issue, it is only natural to experience feelings of helplessness. On the other hand, it does present a significant opportunity to create new workflows and put into practice other modes of operation in order to have a more beneficial effect on the world's ecosystems.

 

According to findings from an in-depth study conducted by Carbon Majors a few years ago, only a very small number of companies are culpable for a disproportionately large amount of the world's emissions. As a result of the claim, many of us were left wondering, "Does what I do in my own household or practice even play a big role?" And it's possible that smaller businesses are pondering the same question.

 

It is interesting to note that many companies were previously unaware that they even have a carbon footprint. This is especially true for sole proprietorships and those who operate from their home offices. Many people aren't aware of the fact that their standard business practices might be increasing their carbon footprint, nor are they aware that they could quickly minimize it by making some modest changes.

 

Fact: Your Professional Mindset Matters

 

It is the ideal time for smaller companies to cultivate what is known as a "mighty mindset," which is the belief that when it comes to bringing about change, no single individual has as much influence as the majority of society. However, even relatively minor changes can have a significant effect when they are carried out cooperatively

 

If 3 million SMBs did just these three things, we could avoid over 800 million kg of CO2 every year, the equivalent of growing nearly 13 million trees.

2. Myth: Sustainability measures will cost your practice too much money

 

Many small businesses are acutely aware of the necessity for a financial lens on investment, not only into a better future, but also into a more successful one. This is the case despite the immense advantage of a healthy world, particularly for future generations.

 

In addition, the survey found that while 90 percent of small businesses do not track their carbon impact, 65 percent of those asked are interested in doing so provided the information can be utilized effectively and accurately. Keeping tabs on your organization's carbon footprint is an investment that will undoubtedly pay off because it will enable you to put into action profitable and environmentally responsible business practices.

 

Taking advantage of this opportunity also presents benefits for accountants and bookkeepers, who are in a position to assist small businesses. Seventy percent of accountants and bookkeepers who were questioned expressed interest in expanding their practice to include sustainability consulting even though the majority of them do not presently provide such services.

Fact: Sustainability attracts money

 

Accountants are utilized by small firms to aid them in making better educated judgments regarding their overall financial health. Professionals that work with numbers, facts, and insights, such as accountants and bookkeepers, are driven by a focus on results and are results-oriented. To our good fortune, the financial advantages of operating in a more environmentally responsible manner have been well researched and can be independently verified.