Press Releases
February 2011
Small firms to get help with government contracts
Essex chartered accountants Rickard Keen LLP are advising small businesses that the government has announced plans to make it easier for smaller firms to win public sector contracts.
In future, there will be a target of 25 per cent of contracts going to small and medium-sized businesses, aided by a more open procurement system and a reduction in the use of ‘preferred bidders’ – usually larger companies.
Rickard Keen partner Noel Kelleway said: “Individual government departments will be required to publish their procurement contracts in future, together with details of how many of them were awarded to SMEs.
“In addition, the government is pledging to pay most ‘primary’ contractors within five days and ensure firms further up the supply chain receive payment within 30 days.”
The measures have been welcomed by the Forum of Private Business (FPB), which said they would help small firms to generate jobs and growth in the economy.
For more information, contact Rickard Keen LLP on 01702 347771 or visit www.rickardkeen.co.uk.