Credit, Collections & Insolvency News
In the run-up to the General Election on 4th July, small businesses across the UK are calling on the incoming government to prioritise sustainable and green initiatives according to new research by Novuna Business Finance.
The research found that 38% demand a green tax system that rewards small businesses for implementing green initiatives and penalises others for ignoring them. Meanwhile, 37% have called for a reduction in business rates for small businesses that switch to green or renewable energy supply. A further 37% have highlighted the necessity for larger grants that fully cover the set-up costs of switching to greener energy.
Nationally, 94% of small business owners could point to specific areas where they needed help and finance concerns dominated – whether incentives, rewards for investing in green initiatives or preferable rates for funding.
More generally, small businesses were also asked what green policies they hoped for from a new government and that would inspire them to take green issues more seriously. Amongst the top responses were, reducing single-use, plastic waste, increasing recycling and reducing littering (75%) and investing more in renewable power so the vast majority of the UK’s electricity is generated from renewables by 2030 (73%) – and support also for a substantial investment into the green economy (72%).
Jo Morris, Head of Insight at Novuna Business Finance said “For the last three years, our research has shown the small business owners want to do more on sustainability and Net Zero, but they are looking for leadership, clarity, and consistency from the Government. If bold moves are made on various green policies, small businesses say it will inspire them to also do more themselves on a range of green and sustainable initiatives. And more specifically, small business owners want financial support themselves from a new government – whether this takes the form of incentives or rewards for becoming more socially and environmentally conscious businesses. This is not a flight of fancy; sustainable businesses are also strong businesses and good news for the UK economy.”
