As the UK prepares for the General Election on July 4th, small businesses are urging the incoming government to prioritise sustainable and green initiatives. Research by Novuna Business Finance highlights key demands from these businesses, stressing the need for substantial support to help them transition to greener practices.
According to the research, conducted by YouGov in February, small businesses are calling for a green tax system, with 38% advocating for tax incentives that reward businesses for implementing green initiatives and penalising those that do not.
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UK General Election: 4th July
Additionally, 37% are demanding reduced business rates for those switching to green or renewable energy, and another 37% are calling for increased grants to fully cover the setup costs of transitioning to greener energy sources.
Nationally, 94% of small business owners identified specific areas where they need help, with financial concerns being the most pressing. They seek incentives, rewards for investing in green initiatives, and favourable funding rates.
Small businesses also want broader green policies, with 75% supporting measures to reduce single-use plastic waste, increase recycling, and reduce littering. Furthermore, 73% want more investment in renewable power to ensure that the majority of the UK’s electricity comes from renewables by 2030, and 72% support substantial investment in the green economy.
Jo Morris, Head of Insight at Novuna Business Finance, said: “For the last three years, our research has shown that small business owners want to do more on sustainability and Net Zero, but they are looking for leadership, clarity, and consistency from the Government.
“If bold moves are made on various green policies, small businesses say it will inspire them to also do more themselves on a range of green and sustainable initiatives. This is not a flight of fancy; sustainable businesses are also strong businesses and good news for the UK economy.”
