Government tenders are attractive to many private sector organisations. Why? Public bodies are extremely good customers and payment terms are generally more favourable.
Although the market is competitive, it is not impossible to gain government as your customer; in fact, in recent years SMEs have been widely encouraged to apply for work with central government.
Accelerate SME growth and win more Government Tenders with Tracker Intelligence.
SMEs – Driving the UK Economy Through Government Tenders
There has been a rise in the number of private sector businesses in the UK, with an estimated record of 5.9 million in 2019. This is an increase of 200,000 since 2018, and a huge increase of 2.4 million since 2000. This is expected to grow further as we enter a new decade.
Many analysts have claimed that SMEs are helping to build a better future for the UK. Figures show that SMEs are driving the British economy forward, providing a high percentage of all private sector employment.
Exploring the Government Tenders Marketplace
The UK Government spend on average £700 billion every year, making them the largest purchasers in the UK in numerous markets.
£284 billion of this figure is spent on procuring goods, works and services with suppliers of all sizes, skills and experience across the UK. The Government are continually working towards making the marketplace more accessible to new and existing suppliers, as well as SMEs.
The central government set itself a target of spending £1 in every £3 on SMEs in its procurement activities by 2022. In addition to this, new legislation has been introduced in the last five years to support new businesses looking to work on government tenders. This includes the requirement that all organisations in the supply chain should comply with the government 30-day payment terms, including suppliers and sub-contractors.
Now is an excellent time for small businesses to bid for government tenders.
In the UK alone, Tracker Intelligence published 126,219 government tenders (including both notices and awards) in 2018. This figure increased by over 3% in 2019 to a total of 130,903. This shows government contracts are steadily growing year on year. As we enter a new decade, the opportunities for organisations to grow in this field are stronger than ever.
How can SMEs access Government Contracts?
Government tenders have become more accessible to SMEs as many are investing in technology like Tracker Intelligence, which in turn makes the procurement process more competitive. Tailored, insightful information and statistics are always worth the investment and can be extremely valuable in particular to businesses with lower resources to pursue their own market research.
Solutions such as Tracker Intelligence reduce the burden on SMEs that do not have the employees to actively search for government tender opportunities. At Tracker, we can help you find more relevant tender opportunities and awards notices than anyone else in Europe, thanks to the detailed daily alerts that we send our customers.
This is just one aspect of our package that allows you to find, bid for and win public and private sector business.
If you want to find out more about how your organisation can be in the best position to be successful with government contracts, read these top tips for winning government tenders. Alternatively, improve your knowledge on the wider market in general with detailed information on how to apply for public sector contracts.
How Tracker Can Help You Win Government Tenders
We have a range of packages available that can be tailored to the needs of an SME business.