Circular Economy: save money, reduce waste and cut carbon emissions
Cleaner, greener strategies can make your business more efficient and place less pressure on your cash flow. With the current economic challenges, why not turn your waste into a source of resilience?
18 October 2021
The Resource Efficient Business (REBiz) programme from the Leeds City Region Enterprise Partnership is currently offering support to SMEs based in West Yorkshire, York, Harrogate, Selby and Craven to identify and implement more sustainable business models.
Often called the circular economy, these business models establish ways of working that promote the use of resources for as long as possible. The REBiz programme offers up to 30 days of free consultation support for eligible businesses to implement cleaner, greener strategies.
I’d encourage all eligible businesses to get in touch and apply for a free consultation to find out how they can reduce costs and develop more sustainable products and services.
DL Chair of the Leeds City Region Enterprise Partnership and NPII
Why adopt circular economy principles?
1. Reduce costs
The circular economy aims to design out waste. Identifying ways to reduce, reuse, repair and recycle materials can help to decrease waste disposal costs and drive greater resource productivity.
2. Generate income and reuse waste
Are there ways that your waste materials could be reused to create a new product?
Using by-products from recovered waste can open your business up to new markets, create new streams of income and reduce material waste.
Working with the REBiz programme, a vanilla manufacturer found a way to improve their filtration and vanilla seed recovery process. Applying this improvement will help the company to reduce waste and increase their productivity.
3. Build resilience
Would you like to become more resilient and less reliant on raw materials that are vulnerable to environmental, social or climate change?
In a recent project, REBiz worked with a packaging manufacturer who’s supply chain had been negatively affected by the COVID-19 pandemic. Using circular economy principles, the business identified the opportunity to collect cardboard packaging from its clients and feed that back into its supply chain, reducing the need for raw materials from external suppliers.
4. Gain competitive advantage
A recent survey by UNDP found that 81% of UK participants believe there is a climate emergency, of those, 77% believe urgent action needs to be taken to combat this crisis. According to research by WRAP, customers have started to abandon products and services from companies that do not align with their personal values, opening new opportunities for companies with stronger environmental credentials.
By reducing emissions SMEs can set themselves apart from competitors and contribute to lower emissions for their customers.
5. Transition to Net Zero
In West Yorkshire we have committed to become a net zero carbon region by 2038. By adopting circular economy practices, SMEs are in a great position to support the region’s net zero goal and protect the planet.
Find Support
There are many ways to use circular economy solutions to become more resource efficient and save money. To find out how we can help, call the Business Support Service and ask about our REBiz programme on 0113 348 1818 or email rebiz@the-lep.com
Further information can be found on our Circular Economy page.
The project is part-funded by the England European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.
