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Support for SMEs

25 August, 2023

There are approximately 5.5 million small-to-medium businesses (SMEs) in the UK. To put that into context, SMEs make up over 99% of the total businesses and provide three-fifths of the UK’s employment. So, while we often think of SMEs as being small in scale, when looking at the big picture, we can instantly see the potential for a collectively large impact, evidenced by their contribution of almost one-third of the UK’s total greenhouse gas emissions.

With the launch of the UK Business Climate Hub, we hope to see SMEs receive the support that they need to contribute to national and global net zero carbon commitments in a low cost, efficient and effective way. Launched by the UK Government, in partnership with organisations such as the Federation of Small Businesses (FSB), NatWest Group, HSBC UK and the National Grid, the hub provides resources to help SMEs reduce their greenhouse gas emissions quickly and easily. The tools and resources provided are designed to support SMEs along each step of the journey from measuring their carbon footprint to selecting and financing low carbon initiatives.

SMEs typically come up against significant budget and resource constraints when considering whether to implement sustainability initiatives within their organisations, often presenting a barrier to action. However, this by no means represents a lack of interest in acting on sustainability, with 8 in 10 SMEs reporting a commitment to do so according to recent survey results reported by Rimm Sustainability. The survey also indicates the value of implementing sustainability is well understood, with the majority recognising the potential benefits from access to investment capital, employee retention and enhanced reputation.

Despite the business benefits that might arise from the transition to net zero, the end point can still seem abstract and complex. The UK Business Climate Hub will ultimately help to bridge the gap between commitment and action, supporting SMEs to improve their understanding and develop credible plans to support the transition. It’ll join a growing network of resources and experts dedicated to supporting SMEs in the transition to a net zero economy from those such as SME Climate Hub to our partners at Net Zero Now. So, if you’re an SME looking to shape your strategy to reach net zero, the UK Business Climate Hub is the perfect starting point.

By Jovontae Catline