Government small business spend

Government Plans to Spend £1 in Every £3 with Small Businesses

Government Plans to Spend £1 in Every £3 with Small Businesses

Minister for the Cabinet Office, Matthew Hancock, has announced plans to increase the government’s small business annual spend from £11.4bn to £14.4bn by 2020. According to Hancock this will mean that £1 in every £3 of all central government spend will be paid to small and medium firms (less than 250 employees) – an increase from 26% in 2013 and 30% in 2014. The minister made the declaration at a conference in Paris on civil service reform and procurement, speaking about the strength of the UK’s small businesses. The news follows a number of government measures to help small and medium enterprises to grow, including steps to tackle late payment problems and improve buying methods in order to enable small firms to bid for government contracts. This included abolishing the pre-qualification ... »