 have re-invested all their profits just to stay afloat this year, according to research. A poll of 500 SMEs revealed the cost of living crisis (38%), energy price hikes (33%) and increased supplier costs (23%) have eaten into margins. Businesses are putting off plans to be more sustainable As a result, plans to make their businesses more sustainable have been put on hold. Just under half (48%) said going green has been less of a priority, though 44% think they'll be able to do more in the next year. The study also found almost half (48%) believe eco-conscious businesses are more successful than those that are not. Victoria Bacon, Smart Energy GB, which commissioned the research, said: 'The economic climate has put Britain's small businesses under a huge amount of pressure, so it's understandable that they're focusing on the essentials of running their business. 'But taking steps to reduce your environmental impact often delivers real cost savings too. 'Even small changes that aren't expensive to implement can make a big difference to a business' bottom line, as well as being good for the planet. 'Getting a smart meter is one small thing small businesses can do, as it can help them monitor their energy usage and identify where they can make changes, as well as keep a closer eye on cashflow.' Looking ahead, 43% now feel in a better position to make their business more sustainable. A quarter would finance eco-friendly changes by reducing spending on other areas of their business and the same amount would look for new revenue streams. Just over four in 10 (43%) want to reduce their carbon footprint so their energy bills go down - but 13% think it will also make their staff happy. And around the same amount (39%) want to do their bit to ensure the planet is both healthy for future generations, as well as being less wasteful. While others plan on moving to more environmen){kind=link}
ONE in five small businesses (SMEs) have re-invested all their profits just to stay afloat this year, according to research.
A poll of 500 SMEs revealed the cost of living crisis (38%), energy price hikes (33%) and increased supplier costs (23%) have eaten into margins.
As a result, plans to make their businesses more sustainable have been put on hold.
Just under half (48%) said going green has been less of a priority, though 44% think they’ll be able to do more in the next year.
The study also found almost half (48%) believe eco-conscious businesses are more successful than those that are not.