Pictured above: (l-r) Richard Baker, Paul Smith, Ranvir Turna (all Lloyds TSB Commercial) and Craig Beatson (Peninsula)

Birmingham firms could be losing out to the competition by failing to make their businesses more sustainable.

The warning came at an event held today in West Bromwich which coincided with a new survey by Lloyds TSB Commercial showing that although 41 per cent of West Midlands businesses believe that becoming more sustainable will create increased opportunities, 21 per cent feel they are not doing enough to capitalise on them.

With businesses citing financial concerns, poor economic conditions and a need for more support from other organisations as reasons for lacking sustainable policies, over 100 local SMEs were given sustainability guidance at the event, which was held at West Bromwich Albion  Football Club.

The event was hosted by senior manager for Lloyds TSB Commercial Paul Smith, in Birmingham who said: "Sustainability is an incredibly important issue for all SMEs in the UK and the wider international business community. Embracing environmental practices has resulted in a whole new era of business thinking, and it is critical that Birmingham firms understand the significance of this shift or run the risk of falling behind their competitors.

"Birmingham's SMEs have made clear that they require increased guidance from other organisations on improving their sustainable credentials, and so today's event was designed to put customers in touch with one of our 300-strong nationwide team of business and environment managers who can help them achieve a greater understanding."

A choice of interactive workshops followed the presentation where guests could discuss alternative financing solutions or impending changes to employment legislation.

Lloyds TSB Commercial has developed a dedicated sustainability website, containing a free tool for SMEs to use to help improve and develop their green credentials.