The energy business is on-trend and doesn’t appear to be slowing down. Government programs incentivize businesses and homeowners to be more environmentally friendly. Practically every industry is making changes to tap into a new market. If you’re considering jumping into the energy business, here are some tips.
Find Your Niche
Some aspects of the renewable energy market require a huge investment. Look for ideas that you’re passionate about that can be infiltrated without a lot of capital. Think about installation or sales. You might be able to sell an idea to a manufacturer.
Follow the Money
Federal and state grants and tax incentives are available to businesses that make the shift to green energy. Find a way to tap into markets that are underused in your community. Homeowners save money by making improvements. If you offer services that can be subsidized through incentives, you’re more likely to find customers for your energy business.
Small business owners need to set themselves up to compete for federal contracts. Look at supplying the major contractors or becoming a subcontractor to break into the market. Start researching now to get your foot in the door because it can take a while to get your business ready. Work with the SBA SCORE program to learn more so that when an opportunity comes up, you can take advantage of it.
Certify Your Business
Become certified “green” to be a sought-out company in your industry. Consumers want to shop at businesses that share their values. LEED, Green Business Certification and Energy Star are good places to start, but some states have certain regulations that must be followed. As you shift toward being greener in your workplace, you set yourself up as an expert.
Contact Sudden Rivers Capital Corp offers financing for your business idea to break into the energy business. Contact our team for more information.