Waste management is under the spotlight on 20th September, as World Cleanup Day takes place. Small firms have a key role to play in this green initiative, with better waste handling part of a wider sustainability drive. But change costs. How can these firms afford it?

Business waste management is an important part of achieving sustainability goals and larger net zero ambitions and World Cleanup Day is an opportunity for small firms to show their credentials and commitment.

Of course, it is important that businesses make the effort for more than just one day and focus on more than just waste management. There a wide range of steps that firms can take to reduce their carbon emissions and make their operations more sustainable, from reducing business travel and using more electric vehicles to optimising light and increasing recycling.

What help do small business owners want with going greener?

However, overhauling operations and introducing new systems and practices comes with a hefty price tag and this is a barrier to progress. According to research from BT, Small Business Britain and Oxford Brookes Business School, two thirds of SMEs are struggling to cut carbon emissions because of financial constraints.

Tellingly, the same study showed that almost two thirds of small businesses owners want more support to implementing greener practices and systems. Development that firms want to see include a green tax system that rewards small businesses for implementing green initiatives, larger grants that fully cover set-up costs of switching to greener energy, a reduction in business rates for small businesses that switch to green or renewable energy and the publication of a simple guide for everything firms can do to be greener.

Investing in greener practices and how alternative lenders can help

World Cleanup Day is a reminder of the key role that small businesses have to play in achieving carbon emission reduction goals. However, it is clear that while keen, a significant of firms can’t afford to do all they can. What’s the solution?

Alternative finance can help.

Services such as invoice finance, asset finance and peer-to-peer lending are proving a vital source of capital for small businesses in the current funding climate (with 65% more SMEs experiencing difficulty in accessing finance from high-street banks).These alternative finance facilities, which offer a more easily accessible, affordable and personalised approach to lending, are helping small businesses survive and target recovery, stability and growth.

This profile has helped cement the reputation of alternative finance in the business sector. Notably, the new Growth Guarantee Scheme will provide a wide range of finance facilities to smaller firms, including asset finance, invoice finance and asset-based lending. This is further proof that alternative lenders are increasing filling the small business funding gap.

Small business finance options for reducing carbon emissions

While the role that World Cleanup Day has in highlighting greener business waste management practices is positive, it is clear that firms need to do more, on a broader scale, year round.

What’s holding them back is the cost. This reticence is perfectly understandable given the state of marketplace – while economic conditions are improving, the pace of recovery is proving slow. Nevertheless, investment is crucial.

It remains to be seen with the sector receives any of the state support it is calling for and as such, it is important that firms are proactive. This is why it is vital that small business owners are aware of all the finance options available to them, including the services of alternative lenders.

To find out more about A&T Business Associates services, contact Steve Bowles on 01903 602211 or steve.bowles@atbusinessassociates.co.uk.