Lack of sustainability threatens West Midlands SMEs warns bank

WEST Midlands firms could be losing out to their competitors by failing to make their businesses more sustainable, financiers have warned.

Lloyds TSB Commercial said although 41% of West Midlands businesses believe becoming more sustainable will create increased opportunities, 21% felt they were not doing enough to capitalise on them.

The bank said businesses were citing financial concerns, poor economic conditions and a need for more support from other organisations as reasons for lacking sustainable policies.

Speaking at an event in Dudley attended by more than 100 local SMEs, Steve Peart, from Lloyds TSB, said: “Sustainability is an incredibly important issue for all SMEs in the UK and the wider international business community.

“Embracing environmental practices has resulted in a whole new era of business thinking, and it is critical firms understand the significance of this shift or run the risk of falling behind their competitors.”

He said West Midlands SMEs had made clear they required increased guidance from other organisations on improving their sustainable strategies.

The event in Dudley was designed to put firms in touch with business and environment managers who could help them develop their sustainable policies.

Jenny Long, of Ice Blue Marketing & Design, said the firm had benefited from the help it had received.

“We have been working with local councils across the West Midlands for a number of years,” she said.

“Sourcing products and services locally reduces the carbon footprint of a business, as well as creating local employment opportunities and ensuring the continued sustainability of the wider local economy.”