Sustainability in Small Business

 Sustainability in Small Business

Why It’s More Than Just a Buzzword for Mainstreets

Sustainability is more than just a buzzword—it’s essential for the success of small businesses and mainstreets. At the Mainstreet SA conference, Bjorn Bergman shared how sustainable practices in The Little Square in Malmö have made the area a thriving destination for both locals and tourists. This example, alongside insights from Gianna Murphy’s work with Renew Adelaide, shows that sustainability is about building long-lasting businesses and communities.

The True Meaning of Sustainability:

Business Sustainability isn’t just about eco-friendly practices—it’s about creating businesses that are resilient and can adapt to change. I experienced this first hand while running two businesses during the pandemic. It taught me that sustainability is about building a business model that can survive the unexpected, like shifting consumer behaviour or economic downturns.

Key Elements of a Sustainable Business:

1. Financial Resilience: As Bjorn Bergman mentioned, diversification of income streams is key to business sustainability. When businesses rely too heavily on one source of income, they become vulnerable to market shifts.
2. Operational Efficiency: Louise Custance’s work with L/NEA on mainstreet improvement projects showed that even small changes can lead to more efficient, sustainable businesses. For example, her approach to making mainstreets more accessible has increased foot traffic for local businesses.
3. Community Support: Small businesses thrive when they have the support of their communities. Gianna Murphy spoke about how Renew Adelaide’s focus on fostering community relationships has helped startups build strong foundations for growth.

Case Studies of Successful Sustainable Practices:

At The Regional Collective, I’ve worked with businesses that have embraced sustainable practices and seen incredible results. From reducing waste to building community loyalty, these businesses have created models that allow them to thrive, even in challenging times.

Sustainability isn’t just about survival—it’s about creating businesses that can adapt and grow, benefiting both the business owner and the community.

Shelley’s Call to Action:

If you’re a small business owner, consider how you can make your business more sustainable. Whether it’s through operational changes or building stronger community relationships, sustainability is the key to long-term success.

Connect with our community for more support & ideas to help you on your journey: https://www.theregionalcollective.com.au/