Twenty-one per cent of small to medium-sized enterprises in the South West believe they are not doing enough to become environmentally responsible, according to research conducted by Lloyds TSB.
The research showed that some 36 per cent of companies questioned in the South West said concerns about the amount of time and money that would be required to become environmentally responsible is the main reason why they have not yet addressed the issue.
The study Revealed that those SMEs that have taken an environmentally responsible approach to doing business, felt that the main benefits of doing so were reduced operating costs and receiving positive customer response.
Lloyds TSB area director Mark Handscomb said: "Sustainability is not just about carbon footprints and polar icecaps - it's about a new way of working and making sure your business is profitable in the longer term.
"Sustainability is a key issue for businesses in the South West and one that can present many opportunities. There is a common misconception that it is not relevant to smaller firms. However, by failing to act now, SMEs could lose ground to competitors, face hefty fines for not complying with strict new legislation and miss out on the opportunities the rapidly-growing green sector is expected to yield."
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