Business Plan: Industry Section: Step by Step on How to Write the Industry Section of a Business Plan

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The Industry section of a business plan normally falls in the Business Overview section of a business plan, and is normally broken down into several sections: major players in the industry, the nature of the industry, any trends in the industry, and any government regulations that cover or relate to the industry. Most of this portion of a business plan is written after having thoroughly resarched these points. And where would you find these juicy tidbits of information? Start at your public library and talk to the reference librarian. If they don’t have the necessary information on hand, at least they’ll be able to steer you as to who does.

Overview of the Industry

First you’ll need to gather information about the general status of the industry in order to determine where your company falls within it. To do so, find the answers to these questions:

  • How large is the industry that your business competes, or plans to compete in?
  • What sectors does this industry include, and how are they defined in the marketplace?
  • Which businesses play the largest ballgame in the relevant sectors and industry as a whole? Which suppliers? Customers? Distributors?
  • What markets are important for this industry? Clients? Customers?
  • What income projections are being made about this industry, and how has it fared financially in years past?
  • What trends have affected, may affect, or are predicted to affect this industry?
  • What are economists and industry watchdogs predicting in the future for this industry?
  • What, if any, government regulations are there that affect this industry? Of those regulations, what hoops are there to jump through, and how much do they cost?
  • What cultural, geographical, economic, demographic, cultural, and social factors affect this industry and your sector in particular? Which, if any, are potential stumbling blocks?

Your Company’s Position within the Industry

The next step of the industry section of a business plan is to determine how your organization does, or plans to fit, within your industry. Some questions to ask yourself:

  • What products or services will your company sell?
  • What is your company’s perceived USP (unique selling proposition)?
  • What could potentially impede you entering into this industry and/or business?
  • Who is your direct and indirect competition? (Found by doing a competitive analysis)
  • How much market share do each of these competitors have?
  • What is your company’s competitive advantage? (Also found by doing a competitive analysis)
  • Who, or what, is your target market?
  • How do you plan on keeping the bits and pieces of your business that are potentially patentable, copywritten or trademarked (and so forth) secretive?

How to Write the Industry Section of a Business Plan

After compiling all of this information, try to reduce the information into a short series of paragraphs that explains the crux of the industry, its history, what the future holds, and how your business will fit into the mix. Most industry sections of a business plan are no more than a page at most (unless it is a very complex industry that requires a lot of explanation for the layperson to understand).

Strengthen the Effect of Your Marketing Impact: Clearly Define What Your Business is Telling Others

Business

In order to grow a business on a continual basis, one must take the necessary steps towards improving business processes. By focusing marketing strategies a business can grow in numerous ways. Below are tips that will provide guidance through this challenge.

Review the Best Customers

 

Repeat customers return for a reason, and business owners must know what that is. Is it satisfaction with service? What about the covenience of the location? Whatever the reason is discover it, and ask for new suggestions. While all may not be worthy of noting, if enough questions are asked, there will be valuable feedback in some responses as well as suggestions on methods of improvement.

Always Provide a Thank You

There is nothing worse than going to a business, being rushed, and then pushed forward sans a “thank you.” After this transaction, what would make a customer want to return? Everyone wants to be appreciated, and customers will take their money to businesses that provide this feeling. Prop a smile on your face, exchange a few pleasantries, send a hand written note along with the invoice, a simple email of appreciation. These actions will help increase business status, and raise profit margins..

Word of Mouth Travels Far and Fast

Remember to always acknowledge customers, ask for referrals and allow behavior to demonstrate the worthiness of additional business. If a referral is received from a customer, show appreciation. How about providing a discount for a future purchase or sending a small free gift? The gift doesn’t have to be large, but recognition is the key to winning in the end.

Have a Professional Look

What does the business appearance say? Is it time to make changes? Examine recent receipts to clarify how business processes are flowing. Remember, simplifying things, being creative, communicating well, and upgrading the look and feel of the current flow will go a long way in the success arena.

Review the Business

While others are examining the facilities to see what is attractive, an owner must do this as well. Note what it is that would make others want to investigate further? Make a list. If the list is too short, then it is time to add to it. If it is difficult to pin-point what is desirable, then believe consumers will more than likely face the same problem. Decide on a small adjustment that can be made with limiting funding, and do it. If that doesn’t work tweak it again until the response received proves adjustments are heading in the proper direction.

Don’t be the Weakling

There are numerous businesses offering similar items in todays market. It is only pricing, services, location etc. that can distinguish one from another. Do some research to determine who is currently at the top in the market in the field, and why. Make note of this. Who is the weakest in the business? One must never fall in to this category. If the business is heading in this direction, find the necessary changes that need to be made and perform them. Study both sides, find what works and what doesn’t and make sure the business can outdo them by becoming the best.

Become a Cheetah

A Cheetah can reach speeds of 60 mph for a limited amount of time. They are often feared by other smaller, weaker animals because of their strength and endurance. Their ability to remain out-front makes them some of the most powerful animals in the jungle. This is the same mentality that needs to inhabit the mind of a successful business owner. The business should never become stagnate; competition always reviewed, and when the business becomes the best allow it to remain its own competitor to elevate the levels of success to the highest depths.

Before Getting Publicity: Steps To Take Before Seeking Out Free Advertising Methods

Advertising

Large companies can advertise their services using direct advertising and marketing campaigns, but smaller business owners need other, affordable tactics to get the word out. What follows are a list of free publicity ideas to start before actually getting publicity – essentially the things to have at the ready.

Be Prepared For Free Publicity By Asking For Editorial Calendars

A good entrepreneur already knows what seasonal issues affect their business way ahead of time, and have already contacted the media in advance with these kinds of news reports and reminders. But what about the items that aren’t seasonal? To find out what magazines will be focusing on months, or sometimes even years in advance, call or email them to get a copy of their Editorial Calendar, and then plan accordingly.

Be Prepared For Free Publicity By Listing The Business As An Expert

One of the easiest ways to test to see whether or not a business is ready for a massive publicity effort is to see how the spokesperson, owner or manager deals with the media on a smaller scale, first. With this in mind, get on journalist-centric mailing lists that ask for expert advice and opinions, such as the ever-popular online Help A Reporter, or get listed a printed version such as The Yearbook of Experts, Authorities and Spokespersons.

Be Prepared For Free Publicity By Creating A Press Kit First

A press kit is a set of documents created by a business owner or marketing professional that outlines all of the necessary information a reporter might want when publicity opportunities strike. Talking points, a history of the company and key players, location and hours of operation, brochures, photos and photocopies of other media can all comprise a business’ press kit. Make sure to have several sets ready to mail off at a moment’s notice, and at least one copy by the fax machine or to send via email as well.

Be Prepared For Free Publicity By Knowing How To Respond To Media Enquiries

Sometimes getting publicity is a piece of cake, and other times it isn’t. But when it works, it really works, and the need to be prepared is crucial. Make sure that the staff members that will be fielding the questions garnered from any publicity efforts are primed and prepared for all eventualities, and have adequate amounts of materials to send interested customers, potential clients or the media on hand at all times. As well, if inventory is something that applies to the business, ensure that there is enough already in stock to meet demand.

4 Tips for New Entrepreneurs – How to Start a Business Successfully

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Are you considering becoming an entrepreneur and opening your own business? Well, if you are, there is no better time than right now. “Why” you ask? Well, in the last decade, technology has opened more doors and helped many new entrepreneurs get their business off the ground. In 2017, as an entrepreneur, there is a plethora of information available to you, which then allows you to make more intelligent decisions. Don’t get discouraged about not having a BIG corporation. In fact, you have an advantage because you have less regulations to worry about, a smaller customer base which allows for closer relationships, and you don’t have the expenses of a big business.

Although being an entrepreneur gives you a lot of freedom, and allows you to have an unlimited income. An entrepreneur must be able to look at the bigger picture to make sure their business is long-term. In this article, I’m going to cover 4 tips that each entrepreneur should take to heart when considering your own business.

  1. Keep Your Day Job.

When first starting out, I would recommend only working part-time on your new business. I say this because most businesses take about 6 months to a year to get off the ground. Therefore, you should keep your day job. The last thing you want to happen is to quit your day job in hopes of having an overnight success only to be disappointed and not be able to pay the bills.

  1. Find Your Niche.

Specialize, specialize and specialize some more. You might be saying “Brian, what do you mean specialize?” Well, these days’ people are looking for a specific answer to their specific problem. That being said, it is up to you to do research into the market you wish to compete in and give your potential customers what they are looking for. The more specific you can get to your niche, the better.

  1. Have an Online Presence.

In 2017, it’s all about having exposure online. Even if you don’t plan to have an online business, it’s still important to mark your territory online. Once you can create an online presence, you free yourself from the limitations of the physical world. That means people from all over the world will be able to find you once you stake your claim online.

  1. Never Give Up.

Never, never, never give up. Even when things aren’t going as you planned. Most people have seen the movie “Rocky” but what most people don’t know, is that before “Rocky” was made Sylvester Stallone was nearly homeless. In fact, he was so poor that he would go to the libraries in the winter just to keep warm. Not only that, when he took the “Rocky” script down to the producers they said that if he acted in the movie it would be a flop. Well, what did Sylvester Stallone do? He refused to give the producers the script until they came to a deal and allowed him to play Rocky. So what is the point of this story? Well, when the producers told Sylvester Stallone that his film would be a flop if he was rocky he refused to give up and it turned out that “Rocky” ended up grossing over two hundred million dollars. So at the end of the day, don’t give up keep your head up when things don’t go your way, and follow through on what you start because you never know where it’s going to take you.

So, if you are considering becoming an entrepreneur and you remember these 4 tips, and use them I promise it will be much easier to grow your business into a long-term lucrative adventure.

From Employee to Entrepreneur

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My Roadmap to Entrepreneurship?

I had always wanted to be a buyer for a big retailer. I pursued a Bachelor of Art Degree in Fashion Merchandising from Old Dominion University to ensure I had the appropriate skills to become a buyer for a retail chain. Ultimately, my academic background and retail experience has helped me to refine my God given gifts in preparation for becoming a buyer for my own business.

I recall participating in a spiritual gifts class at church approximately seven years ago. The class helped me to realize that God has given me a number of gifts to include: strong administrative skills, strong leadership skills and wisdom. However, at that time I was not ready to make use of my God given gifts. I was the servant who dug a hole and buried his treasure. Matt 25:14. I buried my talents.

There was a time when I yearned to be a District Manager for a retail chain. In time, God blessed me with the opportunity to become a District Manager for a small company. Mission accomplished. I was hired as a District Manager, even though I had no multi management experience. Now, look how God works.

As a District Manager, I began to cultivate my spiritual gifts which were revealed to me during the spiritual gifts class I attended at my church. I used my strong administrative skills to organize some chaotic situations. I used my strong leadership skills to develop and inspire those whom I led. As a result, they began to believe they could achieve whatever goals they set for themselves and ultimately achieved the goals the company set for them ninety percent of the time.

My retail experience includes over 15 years of management and leadership, which led me to step out on faith and work for myself. I can remember a shipment of L.E.I jeans coming off the truck and being delivered to the Juniors department. I reviewed the packing slip and noticed the production cost was $4.99 and so I tagged the jeans for $29.50. I said that I would NEVER pay full price again.

One day I found myself reflecting on my retail experience. In the past fifteen years, I have successfully managed resources for other companies. At one time I was managing thirteen stores with over 60+ employees effortlessly. NOW, if I can do that and be continue to be successful as a District Manager, then I can have my own business one day.

Now the question is, “What will I sell?” I had no clue. I started to reflect on the things that I loved and enjoyed and that is when it hit me. Shoes! I love shoes! I cannot resist a pair of fun, fashionable, and sassy shoes. That was it. I decided to sell shoes online and eliminate the overhead cost associated with retail chains. It was then the research began in which I determined in 2011 that shoe retailers registered sales of $27 billion, according the Annual Trade Survey. The NPD group reported that women spent over $38.5 billion on shoes, in which over 50% were sales for shoes with 3″ heels or greater.

The online world was becoming the way people were purchasing products and services. Women would never stop purchasing shoes and so if I could make just 1% of the $38.5 billion in sales, I could be very successful. I drafted a business plan with the help of a marketing consultant and landed a business loan to purchase my inventory.
It took five months to create a logo and develop my website. On May 26th the website for Sassy Shoe Gallery was launched. By the end of the year, the average individual transaction amount was $80 (US dollars). The average individual transaction was $104 (US dollars).

Months ago, I wrote an article entitled, “Dreamers can be Achievers” and it includes 5 simple steps to start a business or accomplish your goals. I truly believe that you have to have a vision before you can have a plan. Your vision has to connect with your passion or you will get burnt out. Once you’ve connected the mental dots, it is a matter of getting your thoughts on paper. Once you declare your vision on paper, you will have a roadmap to success.
Never stop dreaming but more importantly never stop living

Benefits and Responsibilites of Franchise Owners: Most Value, Care Lies in the Brand Name

The benefit of franchising is that the franchisee starts with a business model and established brand name. Protecting that name is up to all franchisees.

Franchising is the safety net that has fulfilled the “American Dream” of many. Today, this industry is bigger than ever and the career choice of even fresh college graduates. But before you buy a franchise, there’s something that you should know; and that’s the benefits and responsibilities of franchise ownership.

Benefits of a franchise business

  1. A business owner isn’t out there alone. The company whose franchise you purchase offers a host of support and training, or at least they should. A potential franchisee should ask plenty of questions about the level of support or training before buying.
  2. Anyone with basic business skills can buy a franchise, because at its core, franchising is following someone else’s path to success. In a stand alone business, the owner is on his own.
  3. There are franchises in virtually every field imaginable. Restaurants, direct marketing, coaching, real estate, repair and restoration and senior care are just a few that showcase the diversity of fields. It’s estimated that there are nearly 1 million franchise outlets in the U.S. In all, it’s estimated that there are 2,900 unique concepts and about 300 are added annually.
  4. The market is already built, in some cases, thanks to the well-known name of the franchisor. If the name is new to the area, the franchisor has plans, and in some cases marketing and advertising dollars, to help break through. So, there’s not the challenge of developing a brand name and building a business that comes with a stand-alone business.

Responsibilities of a franchise business

  1. Every great thing comes with some responsibilities. Franchisees have important obligations, most of which should be spelled out in the Franchise Disclosure Document.
  2. Make sure to fully understand the rules and guidelines in the franchise agreement.
  3. Franchisees who want to make small changes should consult the franchisor first. Some may be stringent about adding a new product line, for instance, while others will allow for the flexibility. Again, asking questions before signing the FDD is key here. For those already in a franchise agreement, though, ask questions before making changes is critical in maintaining a good relationship.
  4. Strictly enforce the quality and safety standards set by the franchisor who is protecting the brand name and marketing efforts for all of its franchisees. Remember, other franchisees will be held to the same standards, benefitting all.

A franchise works best when all parties involved know the benefits and responsibilities of franchise ownership. If all do their parts to adhere to what’s expected, all will benefit.

Sources of Business Startup Cash: Find Cash To Finance Your Business Startup

Have a business idea but need some business startup funds to get the ball rolling?

Sometimes all a new entrepreneur needs is a list of ideas to get their financial juices flowing. Simple is always better, but in the rush to get things done, entrepreneurs often forget that the easiest ways to get business startup financing are close to home. With this in mind, read through this list and try using it as a brainstorming tool or springboard to bigger and better ideas that will work for your specific business needs.

Business Startup Cash Source #1: Yourself

Think you don’t have any cash to fund your business startup? Think again. Most lenders will require the business owner to provide a percentage of cash on their own. So how are people finding this kind of money? By refinancing mortgage or lending terms, selling posessions and/or selling property.

Business Startup Cash Source #2: Family and/or Friends

Try talking to some of your closest and dearest to see what they think of your business startup idea. Their responses may surprise you, and if you can provide them with solid evidence that your entrepreneurial venture is a potentially lucrative one, you may have found one of the more popular ways of earning startup financing.

Business Startup Cash Source #3: Line of Credit

Although a line of credit isn’t recommended as the sole source of funding for any business startup, it is practically required financing for any fledging entrepreneur in the first few years of business. Why? Because even if you’ve planned for every eventuality, there will always be unexpected expenses, and a line of credit will help you slide through those trying times with relative ease.

Business Startup Cash Source #4: Traditional Business Startup Loan

If you do the legwork and create a solid business plan, speaking with your bank about a small business loan might be easier than you think.

Business Startup Cash Source #5: Private Programs Geared Towards Entrepreneurs

Business startup loans are available through many varied sources; its just a matter of finding them and determining whether or not your business idea qualifies. Community Futures or the Business Development Bank are the places to start if you live in Canada.

Business Startup Cash Source #6: Government Sponsored Programs

Both the US and Canada have extensive busines startup financing programs, as do many other countries around the world. The easiest way to tap into this source of startup financing is to contact your local government branch that deals with small business and entrepreneurship for advice.

Business Startup Cash Source #7: Investors

There are several different types of investors a business startup could attract: angel, venture capitalist or private. However, new business startups may struggle in earning investor trust on an unproven business idea, so make sure to learn and commit to memory how approaching investors differs from approaching the banks or traditional lenders, first. The SBA now has an Investment Division that may assist new business startups.

Business Startup Cash Source #8: Grants

Grants sound like a business startup godsend, but in reality they are a tremendous amount of work. Most entrepreneurial ventures find just sourcing grants they are eligible for to be a tedious process (which is most likely why there are so many organizations that cater to this), and even if their business startup does qualify, the process can be daunting. For a list of granting organizations in the US, try the SBA’s list.

6 Business Plan Mistakes: Beware These Business Start-Up Blunders

Any start-up business requires a business plan to prosper. The question, however, is whether or not the business plan will actually help the start-up succeed.

Business plan mistakes are common with entrepreneurs starting their first companies. They don’t think through the actual benefits of a business plan; instead, they simply write one because they know it is what they are supposed to do. Keep in mind that a business plan serves a valuable purpose.

  1. The Business Plan Contains Grammatical Errors

An entrepreneur does not have to ask his high school English teacher to correct his business plan, but a start-up business should be run by a reasonably intelligent human being. Grammatical mistakes, such as spelling and punctuation errors, are red flags that the plan was written by someone who just didn’t care.

To avoid these types of business plan mistakes, it is important for start-up entrepreneurs to review it carefully for the tiniest of errors. The document should flow easily from one section to another and the copy should be free of mistakes. Don’t rely on the spell- and grammar-check capabilities of software applications, either; they won’t catch all the errors.

  1. The Business Plan is Not Written with Investors in Mind

A business plan is intended for many purposes, not the least of which is securing financing from outside investors. When writing such a plan, entrepreneurs should step into the shoes of potential readers to see how they might perceive it. Does the business plan tell investors why they should put up their money for this enterprise? Is it persuasive enough? Does it answer the most important questions?

Play devil’s advocate to avoid business plan mistakes. It should lay out all of the reasons why this start-up might not work out, then strategically outline the ways in which the business owner will ensure those issues do not result in the failure of the business.

  1. The Business Plan is Poorly Presented

A start-up business plan should be printed on high-quality paper and with a laser printer. This ensures the best presentation for the plan and will impress whoever reads it. A business owner might keep a copy that he ran off a standard ink jet printer on lightweight copy paper, but a more pristine copy should be reserved for presentation to investors and banks.

  1. The Business Plan Makes Assumptions

There are two major assumptions inherent in most amateur business plans. The first is that investors, banks and other readers will understand the industry jargon used to explain the foundation of the enterprise; the second is that assertions will be taken at face value.

To avoid these business plan mistakes, it is imperative that start-up entrepreneurs explain everything in fine detail. Don’t assume that others will know what you are talking about; put it in plain English. And if you state assertions, such as statistics or eventualities, back them up with properly-cited data from reputable resources to enhance your business start-up.

  1. The Business Plan Doesn’t Shine

What makes this startup business amazing? What about the business screams, “Success!” A business plan isn’t just intended to outline the specifics of a start-up; it is also meant to sell the business to investors, lenders and prospective employees. Why is this business special?

Think long and hard about what will make this business succeed beyond its competitors. It could be a specific brand of customer service, an ingenious product line or an attention-grabbing slogan. Make those specifics stand out above everything else.

  1. The Business Plan is Not Realistic

Every business start-up has a downside. There is no perfect start-up. Many entrepreneurs make the mistake of avoiding the negative, afraid that bringing up potential obstacles will scare off investors. Nothing could be worse for a business plan. Instead, face the challenges head-on in clear, easy-to-read text, then describe what will be done to overcome them. A realistic business plan is actually better than a perfect one.

These business plan mistakes are fairly common, but they can be overcome when entrepreneurs are honest about their start-up businesses. It doesn’t take a rocket scientist to put together a slam-dunk business plan, but it does require hard work and effort.

Business Idea: Garage Sales Specialist: Profit Selling Other People’s Junk

Organizing a successful garage sale takes a certain amount of skill. One must dedicate a considerable time and planning to profit in this venture.

A garage sale might be a one-time event for an individual who is trying to dispose of unwanted items. Or a planned event for a group or charitable organization. In order to really profit a well written and thought out business plan is necessary. The plan should cover startup cost, pricing, advertising, and marketing tactics. Most people are not willing or able to devote the necessary time or energy to organizing a garage sale on a grand scale. This is exactly why an aggressive garage sales specialist will enter the picture.

Garage Sales Background

Essentially the garage sales specialist is a professional reseller of items which are donated or collected from people who lack the time or ability to organize and sale the items. Essentially the specialist is also a liquidator of people’s accumulated “junk” through the garage sale venue. This business has the potential to earn considerable profits if planned and promoted aggressively.

Garage Sales Startup Cost

The startup cost depends heavily on the size and length of the sale or if the specialist or customer are responsible for advertising costs. Cost is more of course if a lawyer is consulted along with other professionals.

Garage Sales Pricing

Draw up a contract which clearly outlines the terms and services provide to the customer. Avenge commissions run 20 percent and up of the sales.

Garage Sales Marketing Tips

Place classifieds in local papers advertising a garage sale on the specified date and time, location. Run the ad a week before the garage sale date. Check other garage sales ads to get inspiration on how to write a good attention grabbing advertisement.

Place posters (where permitted) around the neighborhood announcing the garage sale. Place flyers on bulleting boards in community centers. Print business cards and hand them out to everyone you meet.

Design a one page website devoted to advertising a garage sales specialist business. And promote the website URL on business cards and stationery, flyers, posters.

Place ads on any of the free garage sales advertising website.

Equipment

  • Tags
  • Receipt Books
  • Bags
  • Advertising Signs
  • Portable Cash Register
  • Computer/Office setup
  • Internet Connection
  • Record Keeping Software

Skills

Hold a garage sale for yourself, family, friends to get familiar with the process. Visit other garage sales and watch how the host handles sales and customers. Good organizational skills are a must. Good business sense. Like dealing with all kinds of people. Tip: Take a course in antiques or collectibles.

Best Customers

Families, singles, couples, moving to a new home and want to dispose of their junk. Search out local realtors and leave business cards.

Potential Income

Varies according to the owner’s promotional skills and sales ability. Capitalize on this business today. And remember to check local requirements. A permit might be necessary to operate this business in your location.

Capitalize on this idea today to start making profits with a garage sales specialist biz.

Survey- Environmental Issues Top Companies’ Plan: Businesses Choose to Offset Carbon to Prevent Climate Change

According to the Carbon Management and Offsetting Trends Survey Report , about three-quarters of companies in the survey are implementing carbon management strategies, up from 2015. The survey is the result of a partnership among EcoSecurities, Baker & McKenzie LLP, and ClimateBiz, all based in Dublin, Ireland. The survey was compiled by several authors and was released Sept. 23, 2016.

About two-thirds of the 300 companies surveyed are measuring their carbon footprint caused from greenhouse gases. A little more than half of North American companies are looking at their carbon footprint and their greenhouse gases compared to 92% of Australian firms and 62% of European companies.

Companies Implementing Other Environmental Strategies

Even if companies don’t have a carbon management strategy or are measuring their carbon footprint, they are taking action to protect the environment.

  • 85% implement energy-efficient measures
  • 79% conduct recycling activities
  • 68% reduce waste
  • 92% are interested in solar power
  • 86% are interested in wind power

They are doing these activities because they are economical and represent the easiest actions companies can take to save the environment.

“It’s highly encouraging to see this growth in interest from companies taking climate action despite the doom-and-gloom outlook on the global economy this year,” said Wheeland, one of the authors. “There’s still plenty of room for improvement.”

Companies Buying Carbon Offsets

Companies have begun one strategy to protect the environment. They showed a strong interest in offsetting their carbon footprint by buying carbon offsets or planning to buy offsets. Of those that bought offsets in the last two years, some offset air travel and offset specific services or products.

The number of companies offsetting their carbon footprint is likely to increase as they work hard to meet carbon neutrality targets. Budgetary concerns are the main reasons companies have stopped offsetting carbon before the mandated targets take effect in 2012.

In addition, one-third of companies said they lack an understanding of offsets. More work must be done to help consumers and corporate officials accept the strategies, the report said. Companies also worry about new regulations or uncertainty in regulatory environment regarding offsets.

The survey pointed out alternatives to carbon offsetting. Companies have chosen to reduce internal emissions, invested in community projects and contributed to adaptation projects. When broken down by region, the survey found the rest of the world favored adaptation where the effects of climate change are felt most.

According to the Carbon Management and Offsetting Trends Survey companies are actively pursuing buying carbon offsets, finding ways to protect the environment and setting aside portions of their budgets for these activities.