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Government contracts are still out of reach for many SMEs.
That's the key finding from the British Chambers of Commerce's new SME Procurement Tracker - powered exclusively by Tussell data.
The report reveals that while absolute public spending directly with SMEs has grown over the past 6 years, SMEs only make up a fifth of overall spending last year. It was the same as 2023 (20%) and only slightly up on 2018 (18%).
The Tracker - now in its second iteration - is the market's benchmark source for reporting on how well the government is supporting small businesses by doing business with them.
Download the Tracker, for free, here.
Drawing on the most comprehensive source of data on UK SME procurement powered by Tussell, this year's Tracker found that:
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Only 20% of direct public sector procurement spend was with SMEs in 2023;
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£39.7 billion was spent by Government directly with SMEs last year;
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Median earning per SME has grown since 2020 – now at £32,000;
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Local Government is the part of the public sector spending the most with SMEs – £15.8bn in 2023.
Click here to access the Tracker.
Want to dig into the SME data behind the Tracker? Get in touch at contact@tussell.com, or book in some time with our team.
