The UK’s smaller sized businesses will benefit from the government’s latest SME Action Plan, which will provide more opportunities for smaller firms to bid for and win government contracts.
The SME Action Plan sets out a commitment by the Department for Business, Energy and Industrial Strategy (BEIS) that by 2022, at least £1 in every £3 government spends will be with smaller businesses and the BEIS Group will spend an extra £35 million with SMEs to level the playing field for SMEs bidding for government procurement contracts.
Currently, BEIS and its partner agencies spend approximately £360 million a year on SMEs.
The government says that the strategy looks to shape the right environment for business, invest in research, build a workforce with the right skills for industries of the future and seize new trading opportunities after we leave the EU.
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Email JaimeSmall Business Minister Kelly Tolhurst, commented, “The UK’s 5.7 million SMEs are the lifeblood of our economy, employing 16 million people and accounting for £1.9 trillion of turnover. They work hard, day in and day out, creating jobs, opportunities and greater choice for consumers and helping to keep the UK a great place to start and grow a business.
“That is why this government’s modern Industrial Strategy is fully behind them and we are working, through initiatives like the SME Action Plan, to build a Britain in which they can continue to thrive.”
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