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Ministry of Defence begins campaign to award more contracts to small companies

Building - Ministry of Defence to ensure small firms receive funding - SantanderCB

The Ministry of Defence is attempting to ensure small firms across the UK receive a further £1bn in government contracts, taking the total figure towards the £5bn mark. The department spent 19.4% of its procurement budget supporting SMEs last year, equating to £3.8bn, but to hit a target of a quarter of spending going to them by 2020 this will have to rise to £4.9bn. The MoD also wants to reduce red tape to encourage smaller companies to bid for work. This will involve creating a single point of contact for companies vying for work, a 'supply chain champion' to advise on how to target contracts, better advertising of contracts, and possibly simplifying contracts. A turnover threshold will also be removed where possible.

 

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