Rarely does new business knock at the door without you having to go out and find it. Whatever your industry, the growth of your business likely depends on successful pitches, winning contracts and seeking out new opportunities. With this in mind, 2011 has the potential to be a pivotal one for your business’ growth. GB’s taken a look what’s coming up this year and how you and your business can take full advantage.
Olympic procurement
With the London 2012 Games fast approaching, there is enormous potential for businesses from around Britain to clinch valuable deals. The Olympic Committee has emphasised the importance of small and large companies from all sectors in delivering the Games next year and the event offers businesses the chance to find new trading partners, enter new markets and compete for lucrative contracts.
Aside from the obvious building and infrastructure contracts, there are prospects available for material suppliers, such as timber and concrete, for tree and flower planters, as well as all businesses related to tourism and hospitality. The capital will be swamped with visitors during the Games and for a number of weeks either side, and so anyone operating in these sectors will find a wide range of business opportunities open to them. Our advice is to get ahead and enquire early for any tendering opportunities. CompeteFor.com is the chosen site of London 2012 for the publication of Games-related contracts. This brokerage service aims to match buyers with potential suppliers, and requires businesses to register to ensure they are ready for London 2012 and other public sector opportunities. VisitBritain has also launched a website to help tourism businesses benefit from the 2012 Games. Tourism2012Games.org includes business advice and access to products and services from two of the main ‘top-tier’ sponsors, BT and Lloyds TSB.
Government procurement
Recent changes to government procurement procedures have given smaller businesses a new competitive edge. In December, the government announced the scrapping of its two-tier code, which was set up in 2003 to ensure pay and conditions of new staff hired by private sector companies that take over public sector contracts would be comparable with those received by the former public sector staff they work alongside. This was a major disincentive to smaller firms to bid for government contracts because it restricted their ability to deliver services as cost-effectively as possible. However, the announcement of the system’s termination is undoubtedly good news for smaller firms looking for new contracts. The government has also unveiled plans to launch a ‘Contracts Finder’ system in March 2011, which will be a free facility for small firms to find public sector procurement and sub-contracting opportunities online. All central government tender documents and contracts will be published via this service.
BBC procurement
Severe government spending cuts last year slashed the BBC’s budget by 16%, resulting in its license fee being frozen for six years and the corporation taking over funding of the World Service from the Foreign Office. So with reduced funds and increasing emphasis on value for money, there are undoubtedly new tendering opportunities opening up. In fact, at the end of last year the BBC ran a two-month pilot scheme to publish supplier opportunities for working on projects for BBC online. While this scheme has finished, it’s well worth having a dig around for other BBC procurement opportunities; if you can prove you’re better value for money than their existing supplier you’re surely in good stead to secure a deal. Check out the eTendering site to register and find out more: https://bbc.bravosolution.co.uk/web/login.shtml.
The Royal Wedding
While you may already be sick and tired of hearing about the forthcoming marriage of Prince William and Kate Middleton, this royal matrimony presents enormous opportunities for British businesses in London and around the country. Yes, it’s true that the three day week may be bad for many businesses, but why not cash in on the potential this national celebration could offer? The Capital is expected to see an influx of Brits from around the country, as well as foreign nationals desperate to sneak a peek at this British monarchical spectacle, which means anyone operating in the tourism industry, be it hotels, restaurants or souvenirs, is likely to see a sharp rise in revenue, along with food and grocery retailers keeping revellers fed and watered. One imaginative London-based travel company is even offering walking tours of sites linked to Wills and Kate. Royal wedding memorabilia is likely to sell like hot cakes in the run up to the big day, so small and medium manufacturers and suppliers would be wise to jump on that bandwagon.
China
It’s not news that ambitious companies are increasingly looking eastwards, but recent talks between David Cameron and the Chinese government have resulted in strengthened trade links between the two nations. This is great news for UK business and in fact, British and Chinese firms have already signed commercial agreements worth an estimated £2.6bn. Some idea of the scale of the opportunity is indicated by the fact that UK exports are still less than 1% of China’s imports. Furthermore, Chinese vice-premier Li Keqiang – the man tipped to become China’s next premier – has been pressing to get EU trade bans against China lifted. These improving trade conditions present enormous opportunities to British companies of all sizes and in a wide range of sectors, from manufacturing and technology to food and drink exporters, energy companies and transport providers. Following months of complaints from multinationals that China isn’t offering them a level playing field, the Chinese government has promised to treat foreign firms hoping to win government contracts equally with domestic competitors. This vast nation – that represents 10% of the world’s GDP – is developing at an unparalleled rate, which means the potential there for British businesses – as well as in other emerging markets, notably India – is huge.