One in six small business owners (17%) say now is the time to explore renewable or green energy options, in an attempt to lower costs following the hike in energy prices since the war in the Middle East.
In terms of their monthly costs, small businesses say rising energy prices mean they expect to pay an average of £785.92 extra a month more to run machinery and equipment.
Remnant Revolution is an example of a small business moving forward with a positive sustainable business agenda. Remnant Revolution aims to build and empower women-led communities, while championing sustainability by rescuing fabric from landfill to create unique homeware.
Pinky Laing, Founder of Remnant Revolution comments: “The geo-political tensions around the world are a great concern to everyone, and the economic impact is already affecting many small businesses here in the UK. We’re already seeing price rises at the petrol pumps and, for many small businesses, energy costs have been a worry since the start of the cost-of-living crisis.”
“Economic pressures also present small businesses with an opportunity to re-think their mission, to adapt and operate differently. My business, Remnant Revolution, focuses on recycling remnant fabrics into sustainable homeware. It’s a business rooted in the local community and we have a mission to empower women through meaningful employment and skills, to build connections that combat isolation and to reduce waste.
“I recently organised a ‘Come Sew With Us’ month-long pop-up in Cirencester that successfully showcased what we are doing as a business with a huge social purpose. My message to other small businesses out there that are kept awake worrying about energy costs, transport costs and logistics – now is the time to rethink your business. Think local, think sustainability and reduce energy use by recycling. Every business is concerned about rising costs and the risk of rising taxes, but Remnant Revolution is a good example of a dynamic small business that doesn’t depend on favourable macro-economic conditions to grow and move forward.”
To discover more, visit: https://www.remnantrevolution.co.uk/about-us
Jo Morris, Head of Insight at Novuna Business Finance adds: “In the face of new market pressures, it is good to see small businesses being prepared to take remedial steps. For many, reviewing green energy options is an avenue to explore – and we know from our research that sustainability remains an important priority for many smaller UK enterprises.”