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Is “Going Green” an option for smaller businesses?
After some of the hottest temperatures seen on record last month we have been reminded about global warming and how small businesses could help the drive towards net zero.
Smaller businesses have recently been affected by the pandemic, higher interest and inflation, and increased energy costs, so it is worth discussing the viability of a green policy during these tough times.
What is a “Sustainable” business?
A sustainable business, or a “green business”, is an enterprise that has minimal negative impact or potentially a positive effect on the global or local environment, community, society, or economy.
Going green could boost competitiveness and specifically improve a business’s reputation with its customers and staff. Most importantly, many surveys reveal that consumers are increasingly assessing a company's environmental credentials, while business supply chains are under scrutiny to minimise environmental, ethical, and social impacts.
There are also several current incentives for environmentally switched-on businesses, and we anticipate future legislation designed to support government environmental pledges.
With a focus on climate change and the environment, sustainability should be increasingly at the heart of business operations. Even small changes can help move UK businesses towards a greener future. The British business bank lists eight ideas on sustainability:
- Don’t use single use plastic;
- Use sustainable suppliers and service providers;
- Implement a greener commute scheme;
- Switch to low energy lightbulbs;
- Install smart power strips;
- Reduce water usage;
- Make workspaces more heat efficient; and
- Install built in recycling units.
For the full details see: 8 sustainable business ideas - British Business Bank (british-business-bank.co.uk)
The British Business Bank has a wealth of information and guides on how to create a sustainable business and prepare for green growth. Take action with their green business guides, jargon busters and helpful explainers.
Find out what Net Zero actually means with their Green Decoder. The online guide has been co-created with Nottingham Business School, Nottingham Trent University to help smaller businesses decipher the terminology surrounding decarbonisation.
You can also commit to the UK Business Climate Hub and take steps to be greener, saving your business money and saving the planet too.
For further information visit Sustainability - British Business Bank (british-business-bank.co.uk)