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23rd April 2019

Grass is greener for environmentally friendly businesses, finds Barclays
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Barclays has revealed that small and medium sized businesses (SMEs) not considering their eco-credentials could be missing a trick as environmental considerations become an ever-higher priority for consumers.

The research found that 57 per cent of Brits placed going green highly on their personal agenda, with 45 per cent actively seeking to purchase products or services from businesses that are environmentally friendly.

Ian Rand, Chief Executive of Barclays Business Banking, said: “In recent years, consumer trends and habits have clearly swung towards a more eco-based focus, and SMEs need to ensure they are adhering to the same values in order to strengthen and grow."

It’s not just consumers who are paying attention to a business’s approach to green but the workforce too: 70 per cent revealed it is important to them that their current or prospective employer is considered a green business, with the figure reaching 77 per cent amongst Gen-Z.

Research reveals that SMEs are starting to listen to consumer demands, with 22 per cent actively making changes to reduce their carbon footprint and a further 41 per cent looking to make changes within the next year. Over the next 12 months, SMEs in the North East (47 per cent), East Midlands (46 per cent) and the North West (45 per cent), look to be leading the way when wanting to introduce green polices.

To back UK SMEs with their green ambitions, Barclays Business Banking has launched Green Loans to assist business customers with eco-friendly changes to their business. Lending of up to £5m is available to SMEs looking to fund initiatives across energy efficiency, renewable energy, green transport, sustainable food, agriculture and forestry, waste management, and greenhouse gas emission reduction.

Mr Rand concludes: “The launch of our Green Loans product is one way for companies to engage with their employees and customers, giving them the opportunity of accessible lending to adopt green policies across their business.”