Sustainable small businesses have been rising in popularity in recent years as consumers are prepared to spend more to buy products from them.
Observers have described these ventures—also called green business—as having a beneficial and strong impact on the environment locally or globally. The enterprises have been designated as being advantageous to the community, society, and economy.
Amazon has taken notice. As part of its inaugural Products for Tomorrow program, the online retailer is offering grants of $20,000 each to five small businesses. Firms with a sustainable product-based business are being asked to apply. Recipients will gain access to Amazon Launchpad, a platform that helps boost sales and exposure on Amazon.
Amazon is “committed to creating a more sustainable shopping experience for customers” and offers “over 300,000 products with sustainability certifications in its Climate Pledge Friendly program in the United States,” the company said in a statement.
Cyrus Wadia, director of product sustainability at Amazon, said, “We know customers want more-sustainable products, and we’ve set out to deliver this through large programs like Climate Pledge Friendly and Amazon Aware. As we grow these programs, we are constantly looking for ways to support our smaller selling partners and brands. Products for Tomorrow allows us to reward innovative products with sustainability attributes from smaller brands, and provide them additional support to connect into our larger retail shopping programs.”
A study showed 85% of people have changed their purchase behavior to be more sustainable in the last five years. And over 30% of consumers globally are willing to pay more for sustainability as demand rises for more environmentally friendly options. Another report, “The State of Fashion,” revealed that 66% of respondents and 75% of millennials look at sustainability when making a purchase.
Applications for the Amazon grants are available through August 18. For more details on eligibility criteria and to apply, go here.