The UK Government has the target of bringing all greenhouse gas emissions to net zero by 2050. However, only 25% of small businesses think this is feasible.
953 small businesses from across the UK were surveyed by Zurich and the Federation of Small Businesses as part of the Net Growth Policy Report.
Given that 99% of businesses in the UK are small businesses, the report outlines the importance of these companies adopting net zero initiatives in making substantial progress towards the Government’s goals.
Ian O’Donnell, Director at FSB, wrote about the sentiment of the businesses surveyed, “Small businesses are, overall, positively inclined towards sustainability: over half of small firms say that sustainability is a high priority for their business, and nearly two thirds believe it should be a high priority for the Government as well.”
Despite this desire to move toward sustainability, there are barriers to this change. 38% of respondents cited a lack of capital, 33% said it would take too long to see a return on investment, and 23% lack the information to pursue green initiatives.
Additionally, 74% of respondents believe that they do not have the appropriate knowledge to transition to net zero and 86% don’t feel they have the time. As a result, FSB recommended that the UK Government provides more opportunities and signposting for net zero learning opportunities.
Finding time to consider how to drive the business forward is a frequent issue for business leaders who attend the Help to Grow: Management Course. Emer Gillespie, owner and founder of Spark & Bell found the course helped her on the business’ green journey, “The course gave me the push I needed to finally go for B Corp certification, something I’d dreamed of but always put off. The mentorship and business school support helped me see where we needed to improve, and within months, those changes had a real impact.
“Achieving the certification was a huge moment for us and felt like a direct result of everything I learned during the course.”
While every business journey is unique, leaders who want to further their net zero initiatives can benefit from time away from working in the business to focus on its future direction.
You can find out more about the Help to Grow: Management Course here.
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