The Procurement Act 2023 aims to make it easier for small businesses and social enterprises to bid and work for the public sector. <\/p>\n\n\n\n
Public sector contracts are lucrative business, with the government and other bodies like the NHS, universities, and schools spending \u00a3300 billion a year. <\/p>\n\n\n\n
This includes goods such as office equipment and hospital beds, works such as the building and maintenance of roads, and services such as adult social care and waste management. <\/p>\n\n\n\n
The procurement process for government contracts has been historically difficult to navigate, and smaller businesses have often lost out to larger corporate firms. But with the value of government procurement with small businesses steadily increasing \u2013 accounting for almost a third of central government spend before leaving the EU \u2013 there\u2019s plenty of opportunity to be had. <\/p>\n\n\n\n
Introduced on 24 February 2024, the Procurement Act 2023<\/a> is a law changing the regulations governing public sector procurement.\u00a0<\/p>\n\n\n\n Before leaving the EU, public procurement was governed by four sets of regulations. With the Procurement Act 2023, the UK is consolidating these into one set of rules.<\/p>\n\n\n\n These and other measures brought in by the act aim to make it simpler for companies to work with the public sector. It\u2019s also purposefully attempting to make it easier for small businesses to bid for contracts.<\/p>\n\n\n\n You can familiarise yourself with the full changes brought in by the act and how to work with it by exploring the government\u2019s series of Knowledge Drop<\/a> videos for suppliers.\u00a0<\/p>\n\n\n\nHow could small businesses benefit from the Procurement Act?<\/h2>\n\n\n\n
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What do small businesses need to do to win government contracts?\u00a0<\/h2>\n\n\n\n