Connect with us

Find us around the globe

View all our office locations

Sustainability Helps SMEs Cut Costs, Increase Profitability

From Environmental Leader , Published 06 January 2014

‚ÄčA quarter of small businesses say  sustainability ranks high on their priority list for 2014  and a third expect to increase their investment in sustainable business practices over the next five years, according to research by Lloyds Bank Commercial Banking.

The Maidenhead Advertiser reports that the UK bank surveyed small- and medium-sized enterprises (SME) about their  sustainability  practices and found more than half of those surveyed saw cost benefits of implementing such practices.

It also found 87 percent of businesses that have implemented sustainable business practices say there are benefits to this such as reduced costs, increased profitability or positively affecting the environment.

Most business, however, say they focus on “traditional green activities” such as  recycling  and  energy efficiency as opposed to broader areas such as  sustainable supply chains  and sourcing, according to the report.

US small businesses  — which employ 60 million Americans, or about half of the workforce — are particularly at risk from extreme weather and climate change and must take steps to adapt, according to a July report from Small Business Majority (SBM) and the American Sustainable Business Council (ASBC).

Subscribe to Greenwatch Newsletter Check out the latest issues