Any good news about the economy is rare these days and it usually has a cautionary tone but that’s not to say there aren’t businesses thriving out there. PH Pallets manages and recycles wooden pallets and we are part of the UK’s green economy where good news is a little more abundant.
This year a report from the environmental think tank Green Alliance said the UK’s green economy, which includes the recycling sector, has remained healthy since the banking crisis. The think tank used a bag-for-life full of official government figures to summarise the current state of the green economy, which is in ruddy health.
According to the BIS (Department for Business Innovation and Skills) in 2010/11 the global low-carbon and environmental goods and services (LCEGS) sector was estimated to be worth around £3.3 trillion, after growing around 3.7% from 2009/10. The UK is currently sixth in the world in this sector, with an estimated value of over to £122 billion (approximately 3.7% of the global market). The UK sector employed an estimated 939,600 people in 2010/11, and the market experienced growth of 4.7% from 2009/10.
Note the word ‘growth’ in that last sentence. You don’t hear that in many other sectors of the economy and we know from our own experience, recycling wood pallets, that the green economy remains strong. In fact, we’ve just completed a £400,000 upgrade of our bespoke IT system and recycling unit in Manchester and we’re looking to invest more in the future.
In a struggling economy recycling makes absolute sense – it saves time, raw material and costs – and nowadays most waste material is a commodity. Using waste wisely makes for good business and a strong economy.