32. SMEs should look again at public sector contracts – legislative changes are levelling the playing field!

Some agency and tech businesses have got their processes around tendering for public sectors contracts off to a tee. Many others are put off by a set of negative perceptions; that the whole thing is beset with red tape and simply not worth the hassle. They might have tendered in the past, simply to learn several weeks after the cutoff date, that they’ve not been successful. No feedback, no learning, no nothing. No wonder they decided not to go back for more.

Changing times

Very soon all of that is set to change. The Public Sector Procurement Act, 2023, endeavours to level the playing field for SMEs and to give them far better access to government contracts. 

In this episode, Waypoint partner Phil Gripton talks to two experts in this area. 

The first, Martin Traynor OBE, is the former Small Business Crown Representative at The Cabinet Office. Martin explains the legislative changes that are coming into effect from October 2024 and which he played a key role in developing. He also outlines why they present an attractive new opportunity for SMEs.

The second, Danny Herbert is an independent agency veteran who’s tendered for and won many public sector contracts during his career. He helps unpack the significance of the changes and explains how SMEs should be preparing for what’s coming.

The best kept secret

From October 2024 the government will have to spend £1 in every £3 with SMEs. So why aren’t more people talking about this big change? The public sector has recognised that innovation often lives in small businesses and as a result, is looking to simplify and open up the procurement process to them. This episode of Waypointers aims to spread the word.

At a time when new business is hard to come by and many agencies are feeling the pinch, now is a great time to find out about new revenue opportunities that are opening up.

Quite simply, the changes are better for business, better for government, driving value for money for the British tax payer and empowering SMEs to win government contracts.