Extracts from an article by London Loves Business
“New research from Tussell, a data provider of government procurement information, has revealed that more SMEs are now winning government contracts than ever, with over 14,000 different SMEs awarded government business last year.
Tussell’s analysis reveals SMEs are in an increasingly strong position to make the most of the commercial opportunity to work with UK government, a market worth £223 billion last year. This underlines progress made on the government’s pledge to spend £1 in every £3 with SMEs by 2022. An average of 1,746 SMEs won contracts per month in 2017, up from 1,577 in 2016. SMEs consistently make up a majority of the suppliers winning government contracts: two thirds (62%) of the 23,100 suppliers that won contracts in 2017 were SMEs.”
Read the full article on the London Loves Business website.
