Corporate social responsibility is biggest driver of investment among Flemish entrepreneurs.

There are still certainties in life. Last week, for example, UNIZO organized the Day of the Entrepreneur, which this year was dedicated to sustainability and circularity. The central message: every company can be circular. In doing so, they asked 266 SME business owners in Flanders whether they are willing to invest in sustainability. The answer: a clear yes. Social responsibility is the main driver for investing in sustainability. But in doing so, companies all too often come up against too high costs and too little support. To reinforce the circular message, UNIZO launched a competition together with sustainable start-up Dripl in which one SME could experience the benefits of Dripl's packaging-free drink dispenser for a month.

"Entrepreneurship for tomorrow" is this year's Entrepreneur's Day campaign slogan. UNIZO launched Entrepreneur's Day as a sincere thank you to the country's entrepreneurs.

"Entrepreneurs are the workhorses of our society. They're the people who work more than 50 hours a week, often well into retirement, while providing work for others and developing new ideas. So, entrepreneurs deserve that 'thank you.' This is especially fitting in times when entrepreneurs are primarily seen as financiers of wages and taxes," says UNIZO CEO Danny Van Assche.

The central theme is sustainability and circularity, or the principle of reduce, reuse, and recycle. By minimizing the raw materials and energy we need (reduce), reusing as much as possible, limiting waste (reuse), and ensuring that the waste we do produce is given a new life (recycle), we can significantly reduce our ecological footprint.

Cost crisis leads to energy transition

The desire among entrepreneurs to do this is greater than ever, according to a survey conducted by UNIZO via Check Market among 266 entrepreneurs. 90% of the SMEs surveyed are currently investing or planning to invest in the near future to rationalize energy consumption, for example, by (additional) insulation or utilizing modern technologies. Renewable energy sources such as solar panels and heat pumps are also popular. 60% of companies have already invested, and almost another 15% have plans.

The unprecedented price increases for electricity, natural gas, and fuel are accelerating the energy transition. Alternative, renewable energy sources are now much more financially attractive than before. The payback period (ROI) is shorter, and people are less dependent on the price volatility of fossil fuels.

CSR

As many as 2 out of 3 SMEs that have to deal with deliveries today invest in sustainable supply chain management, making them highly aware of the risks of violations of human rights, labor rights, and environmental standards in the value chain of certain products and services. This also involves concrete actions, measures, and decisions taken by companies to minimize these risks, for example, by choosing local suppliers.
When asked about their motivation for investing in sustainability, 77% cite social responsibility as one of the main reasons. Cost savings (71%) and the scarcity of raw materials (30%) also scored highly.

Circularity

57% of SMEs invest in the valorization of waste and residual flows from their business activities. Zero-waste policies have been gaining ground in recent years, for example, in combating food waste. Sometimes new materials/products can also be created from the waste stream, literally creating circularity. SME managers are eager to manufacture products in such a way that they last longer, are easy to repair, and, if the latter is not possible, are recyclable. Half of the SMEs where water plays a role are already investing in water-saving measures, for example, by collecting, purifying, and reusing rainwater and wastewater.

A new generation of entrepreneurs

At the intersection of the two trends - cost-cutting and CSR - a new generation of entrepreneurs is emerging. Dripl is one of them. The young company wants to revolutionize the soft drink industry. The start-up by Colin Deblonde and Lucas Moreau has been in business since 2019 and wants to make a big cut in the mountain of waste of 1.3 billion containers that the traditional soft drink industry creates every day with its energy-efficient "Refill Points" (read: tapping points where you can refill healthy soft drinks without added sugars in a refillable drink can). "Our goal is to save 10 million disposable containers by the end of 2023 and operate across Europe," states Dripl co-founder Deblonde. "The fact that our taps consume up to 4 times less energy than classic drink dispensers is also often very important to our customers."

In the lead-up to Entrepreneurs' Day, UNIZO organized a competition where entrepreneurs could win a Refill Point for a month. "We wanted to do our part for Entrepreneurs' Day. On the one hand, by demonstrating that making your work environment more sustainable doesn't have to be difficult, and on the other, of course, by simply rewarding the hardworking entrepreneurs in this country with our delicious drinks."

All partners of the Day of the Entrepreneur can be found here Partners Day of the Entrepreneur | UNIZO.