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Small firms 'missing growth by ignoring sustainability'

Date Added: 01/06/2011  

Small businesses have been reminded of the importance of sustainability, with billions of pounds of growth lost as a result of their inertia, according to new research.

Lloyds TSB Commercial found that nine per cent of British companies are yet to take any steps to become eco-friendly, while one-third stated that they have grown as a result of the measures taken.

John Maltby, managing director at the group, pointed out that small businesses may not be aware of the benefits they can receive through improving sustainability.

"As well as reducing overheads and operating costs, becoming more sustainable will give many firms a competitive edge, enable them to pitch for contracts with strict environmental criteria and enhance their reputation," he said.

It was added that those businesses who are not attempting to become more eco-aware could be missing out on as much as £5.7 billion of potential growth for the economy.

Former star of the entrepreneurial television show Dragon's Den James Caan recently stated that small companies can boost the recovery.

Posted by Julie Cutts  

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