PNC Bank’s ‘Green Small Business Survey’ Finds Most Owners Want New President to Support Expanded Drilling and Incentives for Going Green
Saving money is at the root of environmental efforts among the nation’s small and mid-sized business owners, according to new survey findings by PNC Bank, a member of The PNC Financial Services Group, Inc.. These owners also want the new U.S. president to support both oil drilling in restricted areas and increased incentives to reduce energy use.
“The biggest concern for most small and mid-sized business owners is cash flow,” said Todd Barnhart, senior vice president, business banking, PNC. “These findings reveal that when it comes to the environment, owners think first about their bottom line. Many are missing the point that environmental sensitivity also makes good business sense.”
Barnhart added that PNC’s environmental leadership has resulted in innovative products and services. For consumers, this includes free online banking and a discount loan rate to buy new hybrid cars. For small businesses, a discount loan rate is available to finance energy-efficient improvements, e.g., water and light fixtures, Energy Star appliances, that can improve efficiency and reduce operating expenses.
Green vs. Greenbacks: Business Decisions
Being environmentally friendly isn’t all about protecting Mother Earth. In fact, most owners cite saving money as the root of their green efforts, saying it is the primary motivator when implementing or considering business actions that could have environmental impact.
Three-fourths say savings are the primary reason they are currently or would reduce energy usage, invest in energy efficient systems or change shipping/distribution. When it comes to recycling, however, one-third (34 percent) cite savings as their primary motivation, while nearly half (49 percent) recycle for the environment.
The survey was conducted by Artemis Strategy Group (https://www.artemissg.com/), a communications strategy research firm specializing in brand positioning and policy issues. The firm, headquartered in Washington D.C., provides communications research and consulting to a range of public and private sector clients.