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Number of UK SMEs with science-based targets to jump 20 %
Twenty-six small- and medium-sized companies are set to gain a science-based target , a globally recognised gold standard carbon reduction pledge , in the next few months thanks to a free mentoring programme established by Grosvenor Property UK .
Building on the business ’ experience of gaining a validated science-based target in 2021 , Grosvenor created a free eight-month programme delivered by Heart of The City to help its SME suppliers , those with less than 500 employees , map and reduce their own carbon footprint .
Just 129 UK SMEs have validated near-term targets with the science-based targets initiative . With 26 participants committing to gaining validation , this programme will increase the number of small independent businesses with science-based targets by 20 %.
Having baselined their emissions and now committed to achieving a near term sciencebased target , the programme will support the companies in abating an estimated 55,000 tonnes of carbon by 2030 , equivalent to heating 23,000 UK homes for a year .
SMEs continue to seek funding to pursue growth
Despite record-high inflation and the on-going ‘ cost of doing business ’ crisis , growth is still the most common reason that SMEs are seeking funding .
New research from Growth Lending has found that a third
( 33 %) of businesses currently seeking funding are doing so to promote business growth .
Law appears to be the most growth-minded sector , with 67 % of those seeking funding citing growth as the reason , with energy and utilities and technology following closely behind at 60 % and 54 % respectively .
While growth remains a priority for many , the survey found that almost a quarter ( 23 %) are seeking funding to raise additional working capital . And , with 67 % having at least £ 50,000 tied up in late payments , it is possible that many are raising additional funds to create a cash buffer to mitigate the impact of overdue invoices on the business .
Sparta Science awarded US Air Force Small Business Innovation Research Phase I contract
Sparta Science , a developer of a scalable , Machine Learningbased movement health platform , was recently awarded an AFWERX Small Business Innovation Research ( SBIR ) Phase I contract by the United States Air Force to identify early biomarkers of cumulative sub-concussive brain injury .
This award is significant because it will allow Sparta to develop the capability to identify objectively when airmen are negatively affected by cumulative exposure to repetitive subconcussive blasts to quantify the problem and reduce long-term health impacts .
Sparta Science is actively collaborating with the Department of Defense on multiple SBIR Phase I and Phase II projects to improve warfighter readiness by modifying Sparta Science ’ s commercially successful movement health intelligence platform to meet several USAF use cases .
These initiatives will explore opportunities to enhance clinicians ’ and practitioners ’ abilities to deliver effective movement health guidance at a scale relevant to the USAF .
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