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The government’s Cabinet Office has outlined plans to spend a third of its procurement budget on small and medium sized enterprises (SMEs).
The commitment was welcomed by the Federation of Master Builders, which represents the SME sector of the building industry, and it urged the rest of the public sector to follow suit.
In 2013/14, central government spent an £11.4bn with businesses employing 250 people or fewer, according to the Cabinet Office said. This was equivalent to 26% of central government spend. By 2020, the government wants to increase this to a third. This would mean an extra £3bn per year (in 2013 to 2014 terms) going to SME firms either directly or filtering down the supply chain. Read more at The Construction Index.