More than eight in 10 West firms believe they can win new business by adopting a sustainable approach while just under half say they have taken a practical approach to the issue by changing at least one of their practices.
However, nearly two thirds admit they have little or no understanding of sustainability and 37% acknowledge they could do more.
The mixed picture emerges from a survey carried out for Lloyds TSB Commercial and coincided with a series of events which brought together local business leaders to hear the latest guidance on green practices as well as issues such as employment law, exporting and access to finance.
Lloyds TSB Commercial area director Allan Griffiths said: “This new research highlights that many West firms are already adopting a sustainable approach and enjoying the benefits that this provides, such as the chance to secure cost savings and new business opportunities.
“But there is clearly more work to be done to both educate small businesses on what sustainability is and how it can benefit them, and also to provide them with guidance and support in taking a more sustainable approach.”
The Lloyds TSB Commercial survey canvassed the opinions of 127 businesses in the South West to discover their attitudes towards sustainability.
As well as the 83% who believe a more sustainable approach can deliver new business, 65% said introducing sustainable practices led to opportunities to save money, 58% said it could fulfil a personal interest in environmental matters and 48% said it could generate good staff morale.
When asked whose responsibility it was to implement a sustainable approach within an organisation, the highest proportion of respondents (49%) said it is down to a specialist team.
