Small firms could cash in on London 2012

With the Beijing Olympics now over and attention starting to turn to Britain, government organisation Business Link has launched an information campaign on how small firms will benefit from London 2012.

Organisers believe hosting the games will provide a significant boost to British business, with the colossal event expected to generate contracts worth £6bn and covering 75,000 projects.

Government organisation Business Link is set to help small firms prepare for the event, so that they may get their share of the expected revenue.

Business Link director Nick Weaver said: “London 2012 presents an unprecedented opportunity to promote South West businesses to new markets, providing a unique global showcase for our products and services.

“We are keen to stress to local firms that there is no existing supply chain in place for London 2012. They have the opportunity to join the network of suppliers that is taking shape.

“But it’s critical that businesses start their preparation at the earliest possible date. Contracts are already being issued and will only be offered to those businesses, or groups of businesses that meet specific criteria.”

It is expected up to 2 million contracts will be formed for the event, covering a range of sectors including tourism, manufacturing, catering, construction and trades, retail, media and creative, and many more.

“Local businesses of all sizes really can benefit,” said Nick Weaver. “Of the contracts awarded so far, 50 per cent have gone to firms outside London and 68 per cent have gone to small and medium sized firms.”

According to the Olympic Delivery Authority (ODA) 18,000 companies, 90% of which are SMEs, have already registered their details on the CompeteFor website where 2012 tenders are published.