The Welsh Government is seeking views on two programmes that build on its Towards Zero Waste strategy.
Natural resources minister Alun Davies said he wanted to help businesses become more competitive by reducing waste and cutting costs through a waste prevention programme.
Over the next three months he will consult on how businesses can best be supported to prevent waste.
Mr Davies said if waste prevention targets were met savings could reach £70m each year by 2025.
He has also launched proposals to manage and treat some 3.6m tonnes of waste produced by Wales’s commercial and industrial sector. This plan sets out proposed support for small and medium enterprises to prevent waste.
Mr Davies said: “Raw materials are becoming scarcer while their cost continues to rise and so using Wales’s resources efficiently makes excellent business sense.”
Another part of the waste prevention programme is directed at the general public to encourage people to repair electrical items rather than discard them if they malfunction.
The minister said: “In Wales alone, we bin 6,000 tonnes of working electrical items each year which have the potential resale value of almost £15m.”