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“Make Do and Mend” Costing Retailers One Billion a Year
Listed under: News
Published: Thursday, September 17, 2009
Craft shop owners could be forking out more than £890 million a year on wasted energy, according to a recent report from environmental advisory organisation, the Carbon Trust.
Financial concerns are forcing many business owners to reconsider upgrading their old equipment and make do with inefficient, sub-standard versions instead – with 48% citing cost as the main reason for the procrastination, and 64% waiting until their systems have completely broken down before replacing them.
The chief money-wasters were revealed to be inefficient lighting systems, outdated heating equipment and ineffective glazing and insulation – which were estimated to cost retailers somewhere in the region of £20,000, £15,000, £15,000 and £10,00 a year respectively.
The findings also reveal that 50% of small businesses are currently missing out on the opportunity to reduce their annual costs, with 49% of retailers resorting to staff cuts in order to save cash and 48% of companies presently unaware of the savings that can be made through replacing old equipment.
Commenting on the report, David Caro, the Federation of Small Businesses' (FSB) energy and environment chairman, says, “Due to their size, small retailers are in a unique position to adopt energy efficiency measures more easily and quickly than their larger counterparts. However, many business owners are often limited by time constraints and are not always aware of where and how to access advice on how to go green.”
Gareth Elliott, senior environment policy adviser for the British Chambers of Commerce (BCC), agrees more needs to be done, adding “In the current economic downturn, cash is king and the first place struggling retail businesses should look to redeem funds is in their premises where it’s possible to eliminate energy wastage.”
Jill Shepherd of specialist needlecraft store, Cards 'n' Crafts in Hertfordshire, believes small businesses are being overlooked. “Fortunately, we are based in quite an old building so our overhead costs are very low. However, I am sure it must be incredibly difficult for retailers with bigger properties and I have great sympathy for those who are currently renting their premises. Smaller-sized companies are definitely not looked after enough and these statistics are simply further proof of that.”
She continues, “This year has definitely been quieter than the last, but it's been much better than I expected and, while I wouldn't say we are doing particularly well, we're certainly not losing any money either, which is all anyone can really hope for nowadays. We've been here for many years now and are just happy to still be trading when so many other businesses have closed.”
Financial concerns are forcing many business owners to reconsider upgrading their old equipment and make do with inefficient, sub-standard versions instead – with 48% citing cost as the main reason for the procrastination, and 64% waiting until their systems have completely broken down before replacing them.
The chief money-wasters were revealed to be inefficient lighting systems, outdated heating equipment and ineffective glazing and insulation – which were estimated to cost retailers somewhere in the region of £20,000, £15,000, £15,000 and £10,00 a year respectively.
The findings also reveal that 50% of small businesses are currently missing out on the opportunity to reduce their annual costs, with 49% of retailers resorting to staff cuts in order to save cash and 48% of companies presently unaware of the savings that can be made through replacing old equipment.
Commenting on the report, David Caro, the Federation of Small Businesses' (FSB) energy and environment chairman, says, “Due to their size, small retailers are in a unique position to adopt energy efficiency measures more easily and quickly than their larger counterparts. However, many business owners are often limited by time constraints and are not always aware of where and how to access advice on how to go green.”
Gareth Elliott, senior environment policy adviser for the British Chambers of Commerce (BCC), agrees more needs to be done, adding “In the current economic downturn, cash is king and the first place struggling retail businesses should look to redeem funds is in their premises where it’s possible to eliminate energy wastage.”
Jill Shepherd of specialist needlecraft store, Cards 'n' Crafts in Hertfordshire, believes small businesses are being overlooked. “Fortunately, we are based in quite an old building so our overhead costs are very low. However, I am sure it must be incredibly difficult for retailers with bigger properties and I have great sympathy for those who are currently renting their premises. Smaller-sized companies are definitely not looked after enough and these statistics are simply further proof of that.”
She continues, “This year has definitely been quieter than the last, but it's been much better than I expected and, while I wouldn't say we are doing particularly well, we're certainly not losing any money either, which is all anyone can really hope for nowadays. We've been here for many years now and are just happy to still be trading when so many other businesses have closed.”
