Small businesses, which make up 90% of the global business community, often struggle to grow while facing mounting pressure to address environmental and social challenges. Plastic Bank, a social enterprise dedicated to tackling plastic waste, has launched its “Impact Subscription” to empower small businesses in playing a more significant role in addressing these issues.
Plastic Bank’s Impact Subscription provides a simple yet effective way for entrepreneurs to integrate purpose into their business models, offering solutions that not only help combat poverty and plastic pollution but also drive meaningful growth.
David Katz, Founder and CEO of Plastic Bank, said the programme recognises the untapped potential of small businesses to make a difference. “In waiting for more big businesses to become regenerative, we are ignoring the immense potential of small businesses to drive a meaningful transition toward a purpose economy,” he explained. Katz believes that by offering entrepreneurs the resources to embrace purpose-led practices, businesses can create stronger connections with customers who value sustainability and ethical responsibility.
Supporting Plastic Collection Communities
Plastic Bank’s model focuses on incentivising the collection of plastic waste, which is then exchanged for money and social benefits by members of their collection communities. These social benefits include access to health and life insurance, digital connectivity, grocery vouchers, school supplies, and fintech services, all aimed at improving the quality of life for the collectors. The gathered plastic waste is then recycled and reintegrated into the production cycle, helping to reduce the environmental burden of plastic pollution.
For businesses that subscribe to the programme, a guaranteed number of plastic bottles is collected by Plastic Bank on their behalf. This provides small businesses with the opportunity to contribute to environmental clean-up efforts while also addressing social inequality in some of the world’s most vulnerable communities.
A Win-Win for Business and the Planet
One example of a company benefiting from the programme is Hive Cleaning, a UK-based business and the highest-scoring B Corp certified cleaning company in the country. Co-founder and Managing Director Louis Beaumont spoke highly of the initiative. “Plastic Bank is one of the most effective and important social impact initiatives around and something very close to our heart. We love supporting Plastic Bank, not only to look after the planet but also to lead by example within our industry.”
The Impact Subscription offers businesses access to tools and resources that help them communicate their commitment to sustainability. These include personalised stories, videos, and social media content from collection communities, as well as dedicated web pages that show the real-time impact the business is having on plastic collection. Additionally, companies receive downloadable certificates, detailing the specific volume of plastic waste they have helped remove from the environment.
Growing Demand for Sustainable Brands
The growing consumer demand for eco-friendly products is evident, with a 2022 study by Google Cloud revealing that 82% of shoppers prefer brands that align with their values, 66% actively seek out environmentally friendly companies, and 55% are willing to pay a premium for sustainable goods.
Plastic Bank’s Impact Subscription provides small businesses with an opportunity to meet these demands while playing a tangible role in reducing plastic pollution and supporting underserved communities. Katz summarised the programme’s potential impact, saying, “It’s a win-win-win for the people, the planet, and the businesses.”
To learn more about Plastic Bank’s Impact Subscription, visit their website at plasticbank.com/small-business