In the most recent Business Barometer research, undertaken by Close Brothers, over 95% of Small and Medium Enterprises (SMEs) surveyed in Ireland said they felt motivated to do business more sustainably.
The growth the of Irish economy means companies are looking to invest in their future. Now, more than ever, this investment is being considered with the environmental impact in mind. When surveyed almost 30% highlighted the potential long-term savings as a primary motivator to operate in an environmentally sustainable way, followed closely their belief in it simply being ‘the right thing to do’.
The increased cost of doing business has had a profound effect on implementing more sustainable practices for SMEs. A third of respondents said the rise in costs had a significant impact on applying such initiatives.
Paul Stephens, Head of Corporate and ABL, highlighted the increasing interest into the environmental impact of company decisions.
“The rise in energy prices and greater understanding of sustainably across all industries means investing in the future of the planet and investing for long-term cost saving are increasingly aligned.
“Our teams have extensive experience and knowledge across a broad range of industries and are committed to finding the right funding strategy for your business. We are here to support our clients in accessing finance, increasingly to facilitate their ambitions of sustainable infrastructure and equipment.”
All figures unless otherwise stated are from a survey conducted April 2023. The Business Barometer survey canvassed the opinion of 900 SME owners and business managers from several industries across the UK and Ireland on a range of issues affecting their businesses.