All this week, Tenders Direct is running an ‘SME week’ to raise awareness for smaller suppliers about the advantages of working in the public sector.
Tenders Direct shared 35,436 UK and Irish low value tender opportunities in 2016, so what are the benefits for SMEs to working in the public sector?
The value in the public sector
The UK public sector has opportunities for all sizes of suppliers: low value tenders can total up to £106,047 and high value tenders can be anything from the latter and into the millions.
Four reasons why SMEs should consider working in the public sector
1. Public spend
In the fiscal year ending in 2017, total UK public spending is expected to be £784.1 billion* meaning there are many business opportunities to take advantage of.
2. Prompt payment
according to new data from the CCS, public sector buyers aim to pay all invoices within 30 days, with the majority paid within five.
3. UK Government targets
The government aims to award 25% of public procurement contracts to SMEs.**
4. Value for money
government buyers have to be transparent with the taxpayer money and have to show how they have delivered this. SMEs won’t be compromised by a larger company if they have a better value proposition than them.
Where are the opportunities?
Tenders Direct can help you be more successful in the public sector by allowing you to spend less time looking, and more time bidding for work by delivering tender notifications right into your mailbox.
Bring home more contract wins
With a team of ex-bid writers and reviewers, Millstream Training and Consultancy have supplier training which can help accelerate your bid response from good to great. Our introductory and advanced courses are continually updated to reflect any changes in procurement legislation, not to mention trends which buyers are looking out for. Visit our website to find out more about the training we offer.
With UK government targets, prompt payment, low value tender opportunities and tendering training for SMEs to take advantage of, SMEs are welcome in the public sector: there is a lucrative source of business opportunities waiting for smaller suppliers over on Tenders Direct.