The Inflation Reduction Act is a Win for Small and Mid-sized Businesses
Smaller companies tend to focus on daily operations, and see activities in Washington DC as remote and unhelpful. But the Inflation Reduction Act is setting aside $392B for environmental projects that are good opportunities for small companies. Combined with the Chips act and the Infrastructure act there is well over $500B in money for smart business leaders ready to move on environmentally helpful business opportunities.
Everything from solar panels to charging stations, to components for sustainable electricity generation, storage and more applications is getting money. Opportunities are exploding for better packaging, recycling & reuse, waste clean-up, and emission management. Fleet management systems for electric cars, trucks, buses are needed. Clean manufacturing is needed for electric tools, bicycles, lawn equipment and the motors, sensors, and parts used in all of them. Better agricultural process management, including better water management and production of less water-intensive foods, along with indoor farming and vertical farming are all opportunities that will be funded and implemented.
The opportunities are there. Money for subsidies of all kinds are there. What’s stopping you?
Thinking points:
- Have you assessed how electrification will affect your customers’ business? Your business?
- Have you assessed how environmental awareness is affecting your customers’ view of your business?
- Have you sought opportunities to be more environmentally friendly? Are you looking for opportunities with your customers?
- Where can you apply environmentally better processes to your business?
- Where can you offer environmentally better products/solutions to your customers?