Although sustainability may still remain as an abstract concept, it has become a ‘buzzword’ word in businesses. With the awareness of corporate social and environmental responsibilities (CSR and CER), businesses across all sectors and industries are expected to engage in sustainable development. That is to say, business leaders are considering sustainable business practices as part of their business strategy. This initiative is not referred to as a minor concern anymore.
However, engage in sustainability is not always easy. It seems harder for SMEs as shown in BG’s report (2018).
Eight out of 10 small business bosses want to be more sustainable, but 70 per cent of SMEs are struggling to turn their ambition into action.
Furthermore, SMEs play a vital role in sustainability as the vast majority of firms in the UK is SMEs. As many of them are struggling to push green policies into action.
One of the reasons for this challenge is that SMEs often lack the resources available when compare with larger companies. This making it far more difficult to affect change. The resources SMEs tend to lack are budge, time and sustainability know-how. Regarding the first two barriers, SMEs should not view sustainability as a burden, but an opportunity to promote their business. More consumer groups are willing to pay more for eco-friendly products and services and support those companies contribute to sustainability.
To reach sustainability in a more efficient way, SMEs can collaborate with other business and outsourcing the talent who understand corporate sustainability. Sustainability is achievable, and your business can also become a part of this change.
Reference
BG (2018)Eight out of 10 small business bosses want to be more sustainable.
