In light of the UK’s growing green economy, businesses across many sectors are realising the importance of green initiatives.
New research was released by the Confederation of British Industry that announced the growth of the net zero economy by 10% in 2024, and that net zero generated £83bn in gross value added (GVA), highlighting the UK’s green economy as a growing and worthy investment for businesses.
Businesses can begin implementation of green practices in many ways to move with this growing industry. For example, businesses can begin green developments is by using renewable energy.
However, a recent survey by Novuna revealed over half of small businesses, 55% exactly, had concerns relating to the obstacle of high energy costs of changing energy provider or source. For example, manufacturing businesses rely on a high volume of energy to sustain production. Many organisations in this sector can take advantage of manufacturing business loans to ensure they have the resources to grow and reach their overall business goals.
Despite initial investment cost, over time businesses will begin to form considerable energy bill savings, and so the desire to invest in green energy remains a priority for small business. Half of small businesses surveyed argued that renewable energy, such as water, heating and energy, was more important now than a year ago.
At AJL Finance, we recognise the long-term benefits of the implementation of net-zero policies and green initiatives, but also recognise businesses have struggled to financial commit to the investment and high starting costs these changes ensue.
