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Start-up businesses working on innovations to help combat climate change must have access to reliable funding if the United Kingdom is to meet its carbon emission reduction targets, according to leading business experts from Kingston University in London.
With the British government recently making a commitment to reach net zero carbon emissions by 2050, senior lecturer in entrepreneurship and innovation at Kingston Business School Dr. Yannis Pierrakis said the contribution of small businesses could not be underestimated. Yet it was well known clean technology companies and enterprises focusing on the environment struggled to raise finance which would pose significant challenges, he cautioned.
Businesses - Environment - Companies - Products - Service
"When we talk about small businesses that protect the environment, we're not just talking about companies that make sustainable products, we also mean service providers that help promote and enable greener living and working. As 99 percent of UK companies are small and medium-sized, there's a huge role for them to play in this area," Dr. Pierrakis said.
Environmentally focused companies were often less interested in debt finance and preferred to seek alternative sources of funding, such as peer-to-peer lending or even raising money from cryptocurrencies, he added. "There is a huge appetite from the public for politicians to take action to protect the planet, so there's a real need to look at new ways of funding small businesses operating in the environmental sector. The Government is supporting various green financing schemes, but these are normally focused on large corporations or infrastructure projects."
Conference - Finance - Businesses - Kingston - Business
Speaking at an international conference on entrepreneurial finance for environmentally focused small businesses hosted by Kingston Business School, Kingston...
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