A panel of business experts from across the UK is meeting for the first time today under plans to boost government spending with small and medium sized enterprises.
The advisory panel, made up of 24 entrepreneurs and leading business figures boasting a wide range of experience, will work with the government to ensure that by 2020, £1 of every £3 invested by Whitehall in goods and services goes to small and medium-sized enterprises (SME).
If met, the target would mean almost £3 billion of new business up for grabs each year, either directly or through the supply chain.
The Cabinet Office has estimated that 27% of government’s procurement spending, or £12.1 billion, reached SMEs in 2014 to 15, surpassing its target of 25%.
An advisory panel supported this work and a number of its members are continuing to work with government towards its aim to increase its spending with SMEs to 33% by 2020.
Ben Gummer, Minister for the Cabinet Office and Paymaster General, said:
The business experts will play a vital role to help us increase spending with SMEs, which are the lifeblood of the UK economy. Government is firmly on the side of entrepreneurs and we will do everything we can to make their lives easier. That’s why we have asked business experts to work with us towards our aim that £1 in every £3 of government procurement spending should go to SMEs by 2020.
John Manzoni, Chief Executive of the Civil Service and Permanent Secretary for the Cabinet Office, said:
Government is open for business and wants to work with more smaller businesses across the UK. These 24 business experts from across the UK will help government improve the procurement process so it is simpler, clearer and faster for SMEs.
Leading entrepreneur Emma Jones MBE, the Crown Representative for SMEs, will work closely with the 24 experts to help more small businesses in the UK bid for and win government contracts.
Read the full article on the Gov.uk website where you may also register on Contracts Finder to search for government contracts worth over £10,000 and find out more on how to bid for government contracts.