West London-based GAE will arrange audits that will formally observe production processes, recording details of time, power, waste and lost revenues. The audits will also assess quality standards, environmental impact and the carbon footprint size.

Visits to companies will be followed up by a report of the findings, as well as recommendations for improvements.

As part of the inititiave, GAE has partnered with business auditing company CGS to identify the savings and improvements.

Tony Hards, joint managing director at GAE, said: "Inefficiency can make the difference between a profit and loss no matter what equipment is installed. We want to help our clients run their businesses as effectively as possible which is why we are offering this service completely free of charge."