2021 is here and it is an exciting time for suppliers.
The public sector has planned extensive investment to ‘level up’ the UK as it recovers from a year of COVID-19 related challenges.
We reveal areas of opportunities for suppliers and advice on cybersecurity below.
Good news for construction suppliers
Market Intelligence expert Glenigan predicts that by 2022, the value of underlying starts is forecast to total £49.3 billion, just 3% below 2019 levels.
The UK construction sector began to see a gradual recovery during the closing months of 2020, and this is anticipated to continue for the next two years, while the UK economy recovers and endures the COVID-19 pandemic and faces challenges from Brexit.
“Greater public sector investment is expected to be a major driver for construction growth over the
next two years, although the immediate priority of tackling the pandemic and the deferral of the
Spending Review to later in 2021 are likely to temper the increase in government capital funding.”
Boost for NHS spend
Last year the government’s Spending Review allocated “£3 billion to support NHS recovery, allowing them to carry out up to a million checks, scans and operations.”
Mr Sunak promised to deliver on the priorities of the British people and noted during his speech that the 2020 Spending Review honours the government’s historic, multi-year commitment to the NHS. He said:
This year the government will continue to invest as the core health budget will grow by £6.6 billion in 2021. Allowing the government to deliver 50,000 more nurses and 50 million more general practice appointments.
The UK Infrastructure Bank due to launch
During the last Spending Review, the Chancellor announced the creation of the new UK Infrastructure Bank, which is to be headquartered in the North of England.
The new bank is in part designed to replace funding previously obtained from the European Investment Bank, which the UK left on December 31.
The UK Infrastructure Bank, which was recommended by John Armitt, the head of the National Infrastructure Commission will. work in partnership with the private sector to help finance new investment projects throughout the country in the Spring of 2021.
The Chancellor is not expected to set out the precise financial framework for the new lender, until the spring Budget.
Cyber Security will continue to hit the public sector and its suppliers.
A recent report from security firm Carbon Black showed that 88 per cent of the 250-plus UK businesses surveyed had suffered a data breach in the past 12 months*.
The healthcare sector has been the target of choice for hackers. The World Health Organisation (WHO) has recently reported a fivefold increase in cyber-attacks against the organisation compared to the previous year.
This is incredibly worrying for the NHS and its suppliers, considering the damage caused by the 2017 WannaCry attacks.
If you are healthcare suppliers, you can learn more about how you can protect your business by visiting the Cyber Essentials Online website.
Win procurement opportunities in 2021
Although the UK is back in lockdown for the foreseeable, it is not all doom and gloom as the public sector is open for business.
Make your procurement strategy your new year’s resolution and start winning more opportunities in the UK and internationally.
Tracker can support you with this. Chat to a member of our team today or book an appointment here.