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27 August 2015

Big opportunities for small firms: government set to spend £1 in every £3 with small businesses by 2020

Big opportunities for small firms: government set to spend £1 in every £3 with small businesses by 2020

The government today set an ambitious target to get £1 in every £3 of government’s buying on goods and services being spent with small businesses by 2020. Read more about it here. 

  • This would mean an extra £3 billion per year (in 2013 to 2014 terms) going to small and medium-sized firms directly or through the supply chain.
  • The ambitious new target and measures announced today will get more small businesses working on government contracts.
  • Minister for the Cabinet Office Matt Hancock is also calling on small businesses to sign up to bid for government contracts at gov.uk/contracts-finder
  • Today’s announcement comes on the back of legislation that came into force in March to open up the public sector’s £187bn spend each year to the best businesses in Britain, large and small.

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