The survey also reveals a third of small businesses expect to increase investment in sustainable business practices over the next five years. It was carried out by Gusto Research on behalf of Lloyds Bank and drew on responses from more than 1000 small to medium-sized enterprises (SMEs) with a turnover of up to £25 million.
The findings suggest 2014 could be a turning point for sustainability in the SME sector as small businesses begin to recognise the value of green businesses practices in growing their business.
The report found that over half (54 per cent) believe business sustainability helps reduce their costs and just under a third (30 per cent) believe it increases their profitability.
Most SMEs that are already implementing sustainable business practices (87 per cent) are, however, still focused on narrow environmental activities, such as energy saving and recycling.
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