Energy price hikes push green agenda

A recent survey suggests soaring costs are forcing most small firms to review their energy usage and encouraging many to bring forward plans to become more sustainable enterprises.

The research commissioned by Novuna Business Finance asked 1,027 small business owners how the surge in prices had impacted how they buy and use energy. The findings suggest the small business community is adapting quickly and decisively to the evolving environment, with many planning to reduce energy usage and seriously consider renewable options.

In total, almost nine out of ten respondents said they had reviewed their energy use in response to the sharp rise in energy bills. Specifically, 37% of small business owners said they were shopping around for cheaper deals, while 34% were monitoring energy usage more closely and 29% were actively trying to use less energy. The research also found that 12% of small firms have accelerated plans to utilise green, renewable energy options.

Up until now, smaller firms have tended to trail their larger corporate counterparts in terms of sustainability. However, these findings suggest the energy price crisis may prove to be a catalyst that encourages a greater proportion of small businesses to adopt greener, more sustainable practices.