Cabinet Office to spend more on UK SMEs

posted by 3 years ago in News
Cabinet Office to spend more on UK SMEs

After a meeting, which took place on the 15th of November 24 entrepreneurs are now determined to supply more of the government’s spending on SMEs in the UK.

The aim is for the year of the new decade to see SMEs obtain £1 for every £3 spent on goods and services. If 2020 were to see this through, that would equate to an extra £3bn of business opportunities to SMEs annually regardless of whether that it is through a supply chain or direct business.

Crown Representative for SMEs and founder of Enterprise Nation, Emma Jones spoke to publisher Real Business;

“Historically small businesses have shied away from selling to government, thinking it would be too burdensome to pitch and with the belief that government only buys from big business. But times are changing!

“There’s the commitment to spend a third of central government budget with SMEs, and new developments such as GCloud have made it easier for smaller firms to build a profile and secure contracts.”

Emma Jones won’t be working alone on striving to give more to SMEs within the UK, she will be assisted by 24 other leads within business who all aspire to making the relationship between the government and SMEs more meaningful.

Stats from the Cabinet Office show that currently 27% of spending from the government to SMEs equals £12.1bn during 2014 and 2015, which just passed the target of 25% set out, by 2020 the goal is to exceed this to 33%.

Ben Gummer, Minister of the Cabinet Office has revealed that the panel will act as a “vital role to increase spending.”

Jones concluded with;

“The secret to success is in deciding on your strategy; do you want to sell direct to government or via tire one suppliers? Then look for the opportunities on sites such as Contractsfinder, and be tender ready with documentation such as health and safety and equal opportunities policies in place. Once you’ve secured government work, shout about it!

“The purpose of the SME Panel is two-fold; to feed into government on how the businesses are finding procurement in the public sector, and to outwardly promote the opportunity of selling to government to small businesses across the UK. The end result should be a step closer to reaching that £1 in every £3 target. If we get it right, everyone benefits.”