Growing opportunities for SMEs to secure public sector contracts

Wellden Turnbull SME's Business Development Advice

The Government has announced that it is aiming to increase its spending with small and medium-size enterprises (SMEs) to a third by 2020, and we are encouraging all our businesses clients to get involved.

The most recent public expenditure figures show that from 2013 to 2014, the government spent £11.4 billion of its budget with SMEs – equivalent to 26 per cent of its total spend during that period.

This taken into context with its new target of 33 per cent by 2020 would mean that an extra £3 billion per year will be spent with SMEs, either directly or through the supply chain.

Oliver Spevack, Associate Director, said: “Businesses really need to wake up to the idea of working with the government. While the competition may be difficult, the pay-off can be very rewarding.

“Most small business owners seem to share the view that working with Government means more red tape and scrutiny, and will this can sometimes be the case; the positives often far outweigh the negatives.”

Oliver added: “Businesses considering seeking a government contract should seek professional advice from a properly qualified accountant, who cannot only give guidance on submitting a tender, but can also prepare a company’s accounts in line with the strict guidelines associated with public expenditure.”

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