The Procurement Act 2023 will be introduced next week, on the 24th of February 2025. This will introduce significant reforms to make public procurement more accessible for SMEs. The annual expenditure of around £300 billion on government contracts means the Procurement Act will aim to level the playing field and create more opportunities for small businesses which is vital, especially with rising levels of inflation.
Key Changes:
– Simplified Bidding: A streamlined digital platform will allow SMEs to register, bid, and track opportunities easily, replacing complex EU-based processes.
– Greater Transparency: Clear explanations for bid outcomes will foster trust and encourage participation.
– Easier Access: Simplified documentation and eligibility criteria will reduce barriers for SMEs.
– Social Value Focus: Evaluation will prioritise sustainability and social value, offering SMEs an edge over larger competitors.
Preparing for success:
– Stay Informed: Follow government updates and participate in industry workshops.
– Build Relationships: Network with contracting authorities and other SMEs.
– Boost Public Image: Obtain certifications like ISO 14001, Cyber Essentials, and Carbon Trust Standard.
– Secure Insurance: Ensure coverage for public liability, professional indemnity, and cybersecurity to meet contract requirements.
Opportunities
The Act aims to empower SMEs, making public procurement fairer and more inclusive. Small businesses should prepare now to compete effectively and deliver impactful, sustainable solutions. If you have any questions, concerns or would just like to discuss this further please contact us at office@blcc.co.uk.