UK: One-stop-shop to help businesses save money and go green
  • 2023-11-22
  • Entrepreneurship Research Center on G20 Economies
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  • The UK Business Climate Hub launched 14 August 2023 includes a free carbon calculator and a suite of new tools to help businesses measure, track and report on their emissions and save money by using less energy. It offers detailed advice on everything from sourcing products from green suppliers and reducing emissions from freight and logistics to the most cost-effective ways of installing solar panels and electric vehicle (EV) charging points.

    The new support is aimed particularly at 5.5 million small and medium sized businesses (SMEs) in the UK, with business and industry accounting for around 25% of emissions. Research shows that 90% of SMEs are keen to tackle climate change, but find it difficult to know how or where to start to find the right solutions to reduce their carbon footprint. Studies also show 85% of consumers are more likely to buy from a business with a reputation for sustainability, meaning going green can help grow the economy.

    UK: Rural entrepreneurship is booming in the UK

    New research suggests that the UK’s countryside economy is experiencing a huge boom, as record numbers of ex-urban entrepreneurs start a business in a new (green) field. Venture Forward is an annual international research initiative, carried out by GoDaddy, that analyses data from more than 2.3 million microbusinesses in the UK. The results show that 25.9% of Britain’s microbusinesses are now based rurally, up from 24.1% in 2022.

    In total, almost 100,000 rural microbusinesses have been started in the past 12 months. Leading the charge is women entrepreneurs, who are taking advantage of low barriers to entry to set up shop in the countryside. Last year, just over a third (33.1%) of rural entrepreneurs were female. In the past 12 months, however, this figure has jumped to 43.6%. Comparatively, 35% of urban microbusiness owners are women.

    According to GoDaddy’s findings, retail and consumer businesses are at the forefront of the countryside economy, accounting for 14% of ventures. The most likely culprit for the rise is the post-COVID ecommerce boom. GoDaddy also found that 40% of rural firms launched for less than £1,000, with a further 21% of entrepreneurs requiring under £5,000 to start trading. The return on investment is also substantial – research shows side hustlers can earn over the annual living wage.

  • Partners

  • Global Health Innovation Center (GHIC)
  • World Intelligent Incubation Network (WIIN)
  • National University of Singapore
  • Canada-China Institute For Business & Development
  • TusPark Research Institute for Innovation
  • Cross-strait Tsinghua Research Institute
  • Tsinghua X-Lab

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