Theo Paphitis launches the Big Business Refit

“Over 50 per cent of SMEs make do and mend rather than replace existing equipment,” says Theo Paphitis, the figurehead for the Carbon Trust “Big Business Refit” programme. “Over 60 per cent of businesses will run that equipment until it’s irreparable before they replace it. Just the savings from energy costs alone make it viable to replace that equipment.”

Paphitis is fronting the Carbon Trust’s new campaign to encourage SMEs to replace energy-inefficient equipment using their interest-free loans. One entrepreneur who has already used the scheme is Duncan Leslie, owner of Hever Castle.

“We were spending £60,000 on oil and gas,” he says. “When we started using woodchip, it led to a saving of £50,000 a year in running costs. That’s a significant saving for any size business.”

To find out more about the scheme, and the incentives to get involved, watch the video below.

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