Central government spent an unprecedented £11.4 billion with small and medium-sized enterprises (SMEs) in 2013 to 2014. The figures show that 26.1% of government spend went to SMEs; 10.3% directly and 15.8% indirectly.

According to the Cabinet Office website, they have launched a refreshed free to use Contracts Finder website, which helps find current and future public sector contracts above £10,000 in central government and above £25,000 in the wider public sector.

Plus, the Cabinet Office website states that a new legislation (which came into force on 25 February) means that:

• everyone in the supply chain must comply with 30 day payment terms, including suppliers and sub-contractors

• public bodies must publish an annual late payment report, making their accountability more transparent

• the bidding process is simpler across the wider public sector – complex forms, such as Pre-Qualification Questionnaires, are now abolished for low value contracts

• the procurement process for public sector contracts will be quicker

The regulations implement new EU rules for public sector contracts which will speed up the procurement process. The UK is the first EU member state to implement these rules, doing so in just 10 months, 14 months earlier than the EU deadline.

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