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The businessman has launched the 鈥淏ig Business Refit鈥� campaign with the Carbon Trust. The campaign aims to help property and construction firms scrap their old 鈥減ower-guzzling鈥� equipment and replace it with new, more efficient and cheaper to run equipment.

According to the scheme organisers, upgrading lighting and heating systems alone could save as much as 拢35,000 per annum.

The scheme will offer guidance and financial support in the form of 拢100m in interest free funding, which can be paid back through the energy savings the new equipment delivers.

Businesses can get expert advice, a free energy saving assessment, or apply for interest free funding via the scheme鈥檚 website,

Paphitis said: 鈥淭he Big Business Refit calls on all UK businesses to scour their premises for old equipment, from air conditioning, to heating, compressors to lighting. With interest-free funding available to replace equipment, leading to average energy savings of 15%, and no security required, it鈥檚 an unbelievable deal.鈥�

Almost half of the 250 small and medium-sized companies (SMEs) surveyed by the Carbon Trust said that they were being forced to 鈥渕ake do and mend鈥� their equipment as they did not have the funds to replace it.

The Big Business Refit will run until March 2010.