A panel of business experts from across the UK have met for the first time under plans to boost government spending with small and medium-sized enterprises.
The 24-strong advisory panel had its first meeting on 15 November. It will work with government to ensure that, by 2020, £1 of every £3 invested by Whitehall in goods and services goes to SMEs. If met, the target would mean almost £3 billion of new business up for grabs each year, either directly or through the supply chain.
The Cabinet Office has estimated that 27% of government procurement spending (or £12.1 billion) reached SMEs in 2014-15, surpassing its target of 25%. An advisory panel supported this work and a number of its members are continuing to help government work towards its aim of increasing spending with SMEs to 33% by 2020.