Scottish SMEs see 'financial benefit' of becoming greener

The majority of Scotland’s small and medium-sized enterprises (SMEs) want to become greener as they seek to save on costs and boost their environmentally sustainability, research from the Bank of Scotland has found.

Around a quarter of SMEs said going greener will save them cash. Picture: John Devlin

The lender’s latest Business Barometer revealed that more than two-thirds (69 per cent) of Scottish SMEs plan to improve their environmental impact, while 72 per cent have already taken steps to make their businesses greener in the past 12 months.

More than a quarter (28 per cent) made their premises more energy efficient, while around a fifth (22 per cent) purchased low-carbon vehicles and transport for business use. Nearly a quarter (24 per cent) of firms surveyed admitted that these changes were primarily driven by the potential to make long-term cost savings.

However, 13 per cent of Scottish SMEs said they had not made their businesses more environmentally sustainable in the past year due to the cost implications.

Fraser Sime: 'Scottish businesses understand there is often a financial benefit to making their operations greener'. Picture: Contributed

Fraser Sime, regional director for Scotland at Bank of Scotland Commercial Banking, said: “With environmental sustainability high on the agenda for firms of every size – whether that means they’re doing what they can to reduce energy consumption or cut waste – Scottish businesses understand there is often a financial benefit to making their operations greener.

“Regardless of motivation, we can be confident the impetus to introduce green measures isn’t going anywhere. Becoming more sustainable is a gradual process the UK business community must navigate together.”