A new scheme has been launched to encourage more small businesses to get involved in recycling.
The eQuip initiative, created by The Waste and Resources Action Programme (WRAP), will provide small firms with finance to allow them to recycle a greater volume of their waste products.
WRAP said the scheme will give companies the chance to lease plant and recycling equipment in order to cut down on necessary waste. A special panel of banks will be on hand to fund environmentally-aware entrepreneurs.
Initially, the eQuip programme will only be available to firms in the glass, plastics and organic sectors, but organisers plan to extend the scheme to cover the paper and wood industries.
WRAP said that the recycling sector needs around £6 billion worth of investment to bring it up to standard, and the new scheme will help firms improve their green credentials.
As reported by Startups.co.uk, the government insisted last year that UK businesses must meet certain environmental standards, or risk heavy fines.
Patricia Hewitt, the trade and industry secretary, said that firms must be energy efficient, cut emissions and dispose of their waste products in an appropriate manner.
Steve Creed, of WRAP, said that the new eQuip scheme was an exciting prospect.
“The recycling industry needs to grow rapidly and we are encouraging growth by providing access to finance whilst engaging private sector investors to invest in recycling.
“eQuip has been developed by WRAP to support growth in as painless and commercially efficient way as possible.
“Attracting a mix of different lessors willing to finance different types of companies and equipment was a key challenge. We are delighted at the five banks and leasing companies that have initially joined the eQuip scheme and we hope to expand the participants in due course,” he said.
For further information on the scheme, you can call Steve Creed on 01295 819900.
