// EXPERT PROFILE // beyond just cost alone, allowing them to compete with larger businesses who may have previously benefitted from economies of scale.

How can SMEs prepare for the new act?

Stay up-to-date

With the new act there will be new developments and regulations, as well as opportunities, and government procurement is no exception. Make sure that you, or someone in your business, is responsible for staying informed of these changes. This can be achieved through participating in workshops with industry trade associations, reviewing government guidance and networking with other SMEs.

Build relationships

If you haven’ t already, start building relationships with key stakeholders. These include contractors, contracting authorities( such as government agencies or councils) and other SMEs, all of which can help with business opportunities. Although the act aims to make it easier for SMEs to access these contracts, fostering collaborations could prove invaluable.

Develop your company’ s public image

If you are an SME owner, now is the time to focus on developing your business’ public image to position your company as strongly as possible in the eyes of public sector buyers. Ensuring your business’ financial credit score is in good health and all accounts are up-to-date with Companies House is a good starting point.

It’ s important to also consider what the goals are of the contracts you will tender for, and to start investing in areas that could be viewed as favourable to these buyers before the act comes into full force. This could include certifications or frameworks such as:

• ISO 14001( Environmental Management): Shows a commitment to environmental responsibility

• Cyber Essentials or Cyber Essentials Plus: A UK government-backed certification that ensures basic cybersecurity measures are in place

• SSIP( Safety Schemes in Procurement): A certification demonstrating compliance with health and safety standards required in many public sector projects

• Carbon Trust Standard: Certification for demonstrating actions in measuring, managing and reducing carbon emissions

Have the right insurance in place

Having the right insurance in place for your business can help with a number of aspects of submitting a bid in a competitive tender:

• Bid eligibility: Insurance can help ensure that SMEs meet the necessary criteria to qualify for government contracts by fulfilling legal and contractual obligations

• Risk management: Insurance can provide protection against financial losses from accidents, errors or disruptions that may occur during the contract term, helping to safeguard business operations

• Operational confidence: With appropriate insurance in place, SMEs can operate with peace of mind, knowing they are financially protected if something unexpected were to happen

Rob Rees, Divisional Director of Markel Direct

THERE WILL BE A GREATER FOCUS ON SUSTAINABILITY AND SOCIAL VALUES IN THE DECISION-MAKING PROCESS.

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