SJD Accountancy

UK contractors: Business sustainability will be top priority in 2014

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A recent report from Lloyds Banking Group has revealed that small business owners, such as Limited company contractors, believe that sustainable business practices will be one of their top priorities during 2014.

New research from Lloyds Bank Commercial Banking, has shown that 25% of the UK’s small and medium-sized businesses say that this is one of their top three priorities for the New Year, reflecting a renewed confidence and a desire to focus on developing their business.

Figures revealed that a third expect to increase their investment in sustainable business practices over the next five years and over half recognise the cost benefits of applying sustainable business practices and some have seen improved profitability as a result.

It was also found that many business owners are still focused on traditional ‘green’ activities, including energy saving and recycling, rather than the broader range of sustainable business practices, such as supply chains and sourcing.

Stephen Pegge, External Relations Director, Lloyds Banking Group, said, “Businesses clearly see the benefits of sustainability, and they are carrying out their environmental responsibilities through recycling and being energy efficient.

“But for SMEs, sustainability also means interacting with charities, social enterprises and the community in which they operate; working responsibly within their supply chain and engaging with the next generation, though, for example, apprenticeship schemes.

“Some sectors are really leading the way and other industries across the UK economy can follow their example and help underpin the growth we are now seeing with practices that will give us all a sustainable future.”

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