Between 2015 and 2016 small and medium-sized enterprises (SMEs) benefited from £12.2 billion of government spending.
Government spending directly with SMEs stands at £5.6 billion with the proportion of total government spending going to SMEs standing at around one pound out of every four spent. The Government hopes to be spending one pound out of every three with these types of businesses by 2022.
The Government’s commitment to small and medium-sized businesses was underlined by the Minister for Government Resilience and Efficiency, who stated:
“SMEs are the backbone of the UK economy, fuelling economic growth and providing more than 15 million jobs. These businesses also play a vital role in helping government to deliver efficient, effective public services that meet the needs of our citizens and provide value for money for taxpayers.”
Caroline Nokes, Minister for Government Resilience and Efficiency
It’s also well worth noting that government spending with SMEs is around £5 billion more than it was between 2011 and 2012, when around one pound in six was spent with SMEs, showing that the Government’s strategy has been not just words but actions – and that those actions have had an effect.
You can read more about this story and the Government’s commitment to spend more with small and medium-sized businesses in the article below.
Small firms benefitted from over £12 billion of government spending – GOV.UK
Government spent £12.2 billion with small and medium sized businesses in 2015 to 2016.
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