New Government procurement policy changes to encourage SME participation - additional requirements for prime suppliers
24-04-18 10:21 BIFM
With effect from 1 May 2018 all central government departments, their executive agencies and non-departmental public bodies will be subject to new guidelines aimed at encouraging small businesses (SMEs) to benefit from larger government procurement contracts.
For all new procurements valued above £5 million per annum, prime suppliers will be required to improve the visibility of subcontracting opportunities by advertising them on the Governmentís portal website Contracts Finder.
Suppliers will also have an increased reporting duty to provide the contracting authority with data on how much businesses in their supply chain, including SMEs, are benefiting from delivery of the contract.
The full policy document, which also lists exemptions and their requirements, issued by the Crown Commercial Service can be viewed here.