Enquire About Our Bespoke Finance Solutions
This number has more than doubled in the last year with only 220,000 (4%) being green at the start of 2023.
Two million or 42% of SMEs have started on the road to making their business fit for Net Zero deadlines.
However, these numbers have remained relatively stagnant in 2023 indicating that while some businesses are moving ahead in their transition to become net zero, the majority (58%) are not making plans to go green.
Over a quarter of SMEs have ‘green intentions’ and are currently assessing their sustainability goals (26%).
Meanwhile, only one in 14 SMEs (7%) could be described as ‘greening’, being further along in the journey towards this transition.
On average, SME businesses spend around 16 hours a year considering their approach to sustainability.
This saw businesses investing an estimated total of £83,517. This equates to £47,373 in investigating how to be more sustainable and an additional £36,144 on initiatives to green the business.
Despite the fact that many SME decision-makers (68%) see their businesses play a significant role in the fight against climate change, pressing short-term factors such as reducing costs within the cost-of-living crisis are seen as a greater priority (34%).
SMEs business owners say they feel that strong government legislation needs to be in place to support businesses as they attempt to tackle climate change (73%). Nearly seven out of ten SME decision-makers (67%) think large businesses need to tackle these issues first.
If you need any more information, email enquiries@maffinancegroup.co.uk, call 0115 958 6872 or fill in an enquiry form below.
Have Any Questions?
Qualified Team Available
Almost half of UK energy production is renewable.
Growth experienced in the UK construction sector in Q3 2024.
The UK sees an increase in economic growth through a boost in spending.
How will the Autumn 2024 budget affect businesses?
Company car incentives set to continue past 2028 for electric vehicles.
The contents of the Autumn 2024 Budget in the House of Commons has been revealed.