Pictured above: David Garbutt (LTSBC AD), Jennifer Long (Ice Blue Marketing), Charmaine Morrell (Groundwork West Midlands), Steve Peart (LTSBC SMC) and Tim Jones (Higgs & Son)

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

The warning came at an event held in Dudley 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 the Dudley Village Hotel.

Guests were welcomed by Steve Peart of Lloyds TSB who gave a finance update, followed by a sustainability introduction from Phil Rowley of Lloyds TSB and a briefing on employment legislation from Tim Jones of law firm Higgs and Sons.

The event was hosted by senior manager for Lloyds TSB Commercial in Dudley, Steve Peart, and local Lloyds TSB Commercial customer Jenny Long from Ice Blue Marketing & Design Ltd was also on hand to share her experience on embracing sustainable business policies in her firm.

Jenny said: "We have been working with local councils across the West Midlands for a number of years to create regional online portals for advertising contracting opportunities. We are now planning to launch a joined-up version called 'finditintheblackcountry' which will create a transparent forum for advertising council contracts to local businesses across the Black Country region.

"Sourcing products and services locally reduces the carbon footprint of a business, as well as creating local employment opportunities and ensuring the continued sustainability of the wider local economy."

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

Steve Peart 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 Dudley firms understand the significance of this shift or run the risk of falling behind their competitors.

"West Midlands 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.