Why SMEs Hold the Key to Unlocking Global Sustainability

Small and Medium Enterprises (SMES) make up 90% of businesses globally and are responsible for creating 50% of global GDP and generating up to 70% of employment worldwide​. (World Economic Forum) (McKinsey & Company). 

Based on their sheer number and economic significance, it is crucial for SMEs to adopt sustainable practices for several reasons:

1. Environmental Impact: Since SMEs dominate global business, their collective efforts to reduce carbon footprints, manage resources efficiently, and limit waste can significantly reduce environmental degradation.
2. Resilience and Competitiveness: Sustainable practices can enhance long-term resilience by lowering operational costs (e.g., energy efficiency) and attracting environmentally conscious consumers and investors.
3. Regulatory Compliance: As governments introduce stricter environmental regulations, sustainability helps SMEs remain compliant and avoid penalties.
4. Supply Chain Influence: Many large corporations now require their suppliers, often SMEs, to meet certain sustainability standards, making it essential for SMEs to integrate eco-friendly practices to maintain and grow business relationships.

Intertek is a leading global sustainability solutions provider and helps businesses of all sizes on their journey to Net Zero. Learn more