New funding to help small businesses cut their costs

Small businesses across the UK will benefit from new Government funding and support to help them invest in sustainability, to cut their operating costs and boost their business.

This includes an additional £2 million in funding via the ‘Made Smarter Adoption Programme’ specifically to help SMEs lower their bills and become more energy efficient through investment in technology in areas like heating, insulation and solar power.

This forms part of the Government’s response to the Willow Review Report, which found that 67% of SMEs who adopted sustainable practices, like installing solar panels or selling energy back to the grid, reported reduced operational costs – a clear return on investment.

The Willow Review Report, published earlier this year, is an independent Government-backed report spearheaded by Small Business Britain and supported by Barclays. It aims to unlock the economic opportunity of sustainability for the UK’s 5.7 million small and medium sized businesses.

Blair McDougall, Minister for Small Business, said:

“Investing in sustainability is good for growth, cutting costs, and saving SMEs money to spend on growing their business.

“That is why, as part of our Plan for Small Business, we are supporting SMEs through measures including brand new funding and an improved support offer via the Business Growth Service.”

Katie White, Minister for Climate, said:

“Clean energy is the economic opportunity of the 21st century and we are ensuring small businesses have the tools they need to take advantage of clean technologies and energy efficiency.

“The Willow Review recommendations will help the small businesses that power Britain unlock the financial benefits of sustainability, as we accelerate towards net zero.”

gov.uk