Small businesses lead the way with investment in sustainability
Research from Aldermore shows that 53% of small businesses made an investment in sustainability within the past 12 months, with the average spend being £61,250. SMEs are leading the way in sustainable practices, with 55% of them providing initiatives to reduce the emissions of commuting and business trips – compared to less than one-quarter of big businesses who have done the same.
The survey also revealed that most business plans for SMEs include either maintaining or increasing spend on environmental sustainability this financial year, despite rising inflation and interest rates. It is estimated that small businesses will spend over £78,000 on sustainability-related activities this year – representing an increase of 27% from last year. Recycling, sustainable materials and low-carbon transport are seen as some of the key focus areas for their sustainability initiatives this year.
It seems that sustainable practices are helping small businesses earn the trust of consumers, with a study from IW Capital showing that 58% of Brits plan to shop more at their local high street this year. Additionally, a study from Opinium on behalf of American Express, found that more than half (55%) of small businesses reported seeing a rise in new customers over the past six months. SMEs continue to play a vital role within the UK business landscape, accounting for 99.9% of the UK business population, three-fifths of employment and nearly half of turnover in the UK private sector.
Working with investors up and down the country, IW Capital has seen tremendous demand for SME investment opportunities that support growing firms in the sector. To find out how IW Capital could maximise your investment opportunities, please contact the team today on 020 7015 2250, or email info@iwcapital.co.uk.