Government releases SME Spend Data for 2021/22

From: techUK
Published: Fri Aug 25 2023

Government has a target of spending 1 in every 3 (33%) of its procurement budget with SMEs and is taking a range of measures to try to achieve this.

techUK recognise the importance of government making use of SMEs and understanding how they can meet their needs. SMEs play a critical role in driving innovation in public services, but it isn't always easy for them to get a foot in the door. The 2021/22 SME Spend Data reveals steady progress, with this being the fifth consecutive year that government spend with SMEs has increased and nine government departments are now exceeding 33%.

However, overall, the government is still below its target of 33% of procurement spend going to SMEs. The hope is that when the Procurement Bill is implemented in 2024, liberalising the UK's public sector procurement rules, that it will be what makes a real difference for SMEs and enable more small businesses to compete and win public sector contracts.

You can view the full spend data report here.

Company: techUK

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