SUSTAINABILITY HIGH ON SMEs’ AGENDA DESPITE ECONOMIC HEADWINDS

The message about needing to move towards a more sustainable future is being heard by the UK’s SMEs as they actively plan for a ‘greener’ way of doing business, according to the latest independent research from Close Brothers Asset Finance and Leasing.

The data reveals that 75% of those polled state being a sustainable business is important to them while a further 77% believe their firm already behaves sustainably.

Four in five firms are actively enacting plans to become more sustainable, while 62% have set goals to make their firm greener and more efficient, providing hope that the ‘green revolution’ is beginning to gain traction among the UK’s smaller firms who aren’t waiting for larger businesses to take the lead.

According to the CBI, the UK risks falling behind Europe, the US and Asia in the race towards investing in green technology if more action isn’t taken soon; however, according to the research, 60% of firms have already invested in technology to help them become more sustainable. This finding clearly demonstrates the willingness of business owners to spend capital on green technology in spite of the many challenges they face, including inflation, interest rate hikes and subdued demand.

“These results make for very encouraging reading,” said Neil Davies, CEO of Close Brothers’ Commercial Division. “The message about the need to move to a greener way of living has landed and is being heard loud and clear.

“Every business has a clear duty to act responsibly towards the environment and we are working with firms across the UK on renewable energy projects, including shore wind farms, solar energy installations, battery storage projects and landfill CHP projects, to name a few.”

• Sigrid de Vries