London-based SME financier 365 Business Finance develops guide to sustainability for SMEs
Over the past few years, consumers’ stance and beliefs towards the importance of environmentally friendly behavior have grown many folds. As a result, a lot of companies are changing the way they do business to address the challenges of environmental degradation.
Recently, YouGov, a British international Internet-based market research and data analytics firm, surveyed SMEs on setting sustainability targets.
According to the research, 40% of SMEs do not currently have a sustainability plan in place, with 30% openly admitting that they have no intention of developing or adopting one.
Why SMEs are important?
SMEs are a powerhouse for UK’s economy, as they make up 99.9% of the business population. They employ over 16.8 million people and generated £2 trillion in turnover in 2020 alone.
If every SME made a greater commitment to the UN’s Sustainable Development Goals, it would contribute towards battling the environmental, economic, and social sustainability issues that we now face globally.
Offers guide with simple steps
As a result, 365 Business Finance offers a guide with simple sustainability steps for SMEs.
Headquartered in London, 365 Business Finance is a direct financial provider, offering a merchant cash advance product to small and medium-sized businesses across the UK that are looking for unsecured business funding from £5,000 to £200,000.
While many SMEs may not be in a financial position to commit to and implement big sustainability initiatives, there are initial steps that do not require a financial investment.
Managing Director at 365 Business Finance, Andrew Raphaely, said, “While all eyes are on COP26 taking place in Glasgow, many businesses are being driven to think of the environment and how they can do more when it comes to sustainability and setting their own targets.”
“The benefits for SMEs of developing and striving to achieve sustainability goals include improved brand image, reduced costs if lowering the consumption of resources in the workplace, and of course preparing for the future by keeping up with updated government commitments and the needs and visions of employees wanting to make a difference.”