New research shows 89% of small business leaders surveyed would check the sustainability credentials of a company in some way before deciding to work with them.
The research by Novuna Business Finance surveyed over 1000 small business leaders. The Small Business Sustainability Report 2023 from Novuna Business Finance found that 76% of small businesses said they intended to “green” their supply chain last year (2022).
58% of small businesses said they would seek out official certifications, accreditation and listings from companies they intended to work with. However, 64% of leaders of larger businesses (up to 250 employees) were more likely to seek out official accreditation versus 53% of businesses with fewer than 100 employees.
34% of small businesses said they would research the company’s green policies and practices on its website, with an additional 31% saying they would check reports and mission statements that outline green objectives. 28% said they would ask representatives about the company’s attitude towards sustainability as part of the process to decide whether or not to work with them.
We are quickly reaching the point where many small businesses will seek out greener options if it falls within the bracket of what they consider to be affordable.
35% also said that they would do a cursory search on the company both on the internet and on social media to check what others had said about their sustainability credentials. Additionally, 22% said they would ask close contacts of the company to get a sense of a partner’s reputation as a sustainable company.
Jo Morris, Head of Marketing and Insight at Novuna Business Finance, commented: “We are quickly reaching the point where many small businesses will seek out greener options if it falls within the bracket of what they consider to be affordable. This wave of interest is met with an ever-increasing range of options to choose from.
“This means that business leaders are now forced to apply an additional layer of rigour to sort the genuine from the ‘too good to be true’. What we see from this research is not only the desire to work with green suppliers and stakeholders as part of their day-to-day operations but also the extent to which they are prepared to check any claims.”
