£11.4 billion on small and medium sized enterprises

The data shows that 26.1 per cent of government spend went to SMEs, with 10.3 per cent spent directly and 15.8 per cent indirectly – meeting the target set in 2010 that targeted 25 per cent of government procurement spend to be with SMEs by the end of the current Parliament.

Minister for the Cabinet Office Francis Maude said: “I am so pleased that our reforms have ensured that innovative SMEs benefited from £11.4 billion of business last year alone. Over a quarter of our spend now goes to SMEs but we know there’s much more to do, and these new reforms show just how determined we are to finish the job.”

New legislation coming into force means that everyone in the supply chain must comply with 30 day payment terms, including suppliers and sub-contractors, and that public bodies must publish an annual late payment report, making their accountability more transparent. It will also ensure that the bidding process is simpler across the wider public sector, with complex forms, such as Pre-Qualification Questionnaires, being abolished for low value contracts, therefore making the procurement process for public sector contracts quicker.

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