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Procurement Act: Information for SMEs

Procurement Act: Information for SMEs

Good News For SMEs 

The new regime aims to make it easier for small businesses to win public sector contracts. The Procurement Act requires contracting authorities to have regard to barriers facing SMEs and consider what can be done to overcome them and includes mechanisms intended to help SMEs to do business with the public sector, including: 

  • Increasing visibility of business opportunities in the public sector by requiring authorities to publish a number of new notices covering the entire procurement lifecycle.  
  • Simplifying the tender process by the creation of a single digital platform for suppliers to register their details, that can be used to bid for opportunities from all public authorities.
  • Reducing up-front costs for suppliers tendering for public contracts, for example by allowing evidence of insurance policies to be provided at call-off, rather than framework award.
  • Driving innovation by allowing authorities more flexibility in procurement processes, enabling suppliers to understand their challenges and develop new solutions to tackle them.
  • Ensuring suppliers receive prompt payment by mandating a 30-day payment term and requiring authorities to publish Payments Compliance Notices every six months. 

ESPO has a long-standing history of support for SME organisations and are enthusiastic about the benefits the new regime will bring for suppliers of all sizes.

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