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Business No Brainer Saves Cash, Says TV Dragon Theo

Businesses are wasting billions of pounds a year by failing to replace tired and inefficient equipment because cash is not available to upgrade, according to a new study.

Research by the Carbon Trust shows businesses are wasting £3.3 billion a year in energy costs that they could save if they simply replaced old machinery and equipment with newer, more energy efficient models. The same report also showed 52% of businesses would upgrade if they had the cash.

To help businesses, the Carbon Trust has launched a £100 million Big Business Refit offering interest-free loans and advice on replacing equipment until March 2010.l

Special clinics will demonstrate equipment and offer advice in London, Birmingham, Manchester and Belfast.

TV’s Dragon Den entrepreneur Theo Paphitis supports the scheme.

“The Big Business Refit calls on all UK businesses to scour their premises for old equipment, from air conditioning, to fridges, compressors to factory machinery,” he said.

“With interest-free funding available to replace equipment, leading to average energy savings of 15%, it’s a no brainer for businesses to join in.”

The unsecured, interest free loans can be used to replace equipment costing between £3,000 and £400,000 repayable over a period of up to four years.

“Watch your energy bills drop and your business efficiency rise thanks to your new kit,” said a Carbon Trust spokesman. ”Then pay the loan back from the savings you make, then pump the continuing savings back into the business.

The Carbon Trust gives the example of a Yorkshire-based printer that has taken two loan totalling £300,000 to replace equipment and lighting and now saves £130,000 a year on energy bills.

“Our findings show that by scrapping their old equipment and updating to new energy efficient models, most businesses save around £14,000 per year on their energy bills,” said the spokesman.

Although the scheme is called The Big Business Refit, the loans are aimed at small and medium size businesses.

Apply by calling 01865 885879 or go to the Carbon Trust online (link: http://www.carbontrust.co.uk/energy/takingaction/about-loans.htm)


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