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 probably depends on successful pitches, securing contracts and seeking out new opportunities. With this in mind, 2011 has the potential to be a pivotal year for your company’s growth. Growing Business takes a look at five big opportunities 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 work, there are prospects available for: material suppliers, such as timber and concrete; 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, 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 the Games and other public sector opportunities. VisitBritain has also launched a website to help tourism businesses benefit from the Olympics at Tourism2012Games.org.
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 bidding for government contracts, because it restricted their ability to deliver services as cost-effectively as possible. As a result, 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 this March, which will be a free facility to help small firms find public sector procurement and sub-contracting opportunities online. All central government tender documents and contracts will be published via this service.
Until April 2011, lower value contracts can be found at www.supply2gov.uk. Higher value contracts are listed by European governments on Tenders Electronic Daily (TED) at http://ted.europa.eu/.
The Royal Wedding
While you may already be tired of hearing about the forthcoming marriage of Prince William and Kate Middleton, this royal matrimony presents huge opportunities for British businesses across 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 UK, as well as foreign nationals desperate for a peek at this British monarchical spectacle. This means anyone operating in the tourism industry, from hotels and restaurants to souvenir sellers, 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 very well in the run up to the big day, so small and medium-sized manufacturers and suppliers would be wise to jump on that bandwagon.