WITH Christmas coming, talk of a looming recession and the term 'credit crunch' ringing in our ears we are all starting to tighten our belts – but are we really doing enough?
Individuals' changes are helping but we need to ensure that we are not
only keeping ourselves afloat but also helping to keep sometimes struggling businesses in the black.
The Government's decision to cut VAT from 17.5 per cent to 15 per cent will help alleviate some of the financial pressures businesses are currently finding themselves under; but with approximately 4.7 million businesses in the UK, companies need to improve their long-term cost-saving measures to make a real long-lasting difference.
Although money saving has always been a prominent part of business practice it can easily become overlooked.
However, time must be set aside for review and by linking cost-cutting to a robust environmental policy – another essential element of modern business life – Scottish firms are seeing huge financial and business-related benefits.
On average, excluding personnel and buildings, energy bills are the third biggest outgoing for any organisation, so it makes sense to look at energy cost cutting first.
Be it making sure heating is only on at key times, ensuring computers, lighting and equipment are turned off at night, or installing renewable technologies such as solar panels or wind turbines, clear savings can be made. Even the development of energy saving products or employing greener management and process procedures can significantly reduce a company's outgoings.
These are the sorts of measures that are second nature to the winners of the Vision in Business for the Environment of Scotland (VIBES) awards – now in their ninth year – which took place in Edinburgh's Sheraton Grand Hotel this week.
Some of the award-winning companies have seen staggering reductions in their waste with up to 80 per cent being recycled and annual savings of £500.
In addition to financial and environmental gain, VIBES winners are also reaping the rewards associated with improved reputation, increased competitive edge and consequently new business.
VIBES winners range in size from employing eight to 700 employees, showing that environmental and consequently money-saving techniques can be adapted to suit any size business and all budgets.
There is no excuse for businesses not to follow VIBES winners' example and review their policies – changes ensure they are not only being environmentally responsible but are also saving money and doing the most they can to help Scotland both socially and economically in these challenging times.
• Gillian Bruce is chair of the VIBES of Scotland Awards 2008
The full article contains 450 words and appears in Edinburgh Evening News newspaper.
