Robert Stoneman, Principal Analyst at GlobalData, demonstrates that the claim government is spending more than ever with SMEs may not be all it is cracked up to be.
“The amount of money the government spent with small businesses in 2018-19 was highest since government records began in 2013.” This was the claim made in January on the release of the Cabinet Office’s latest figures for how much Government spends with small businesses (SMEs).
Looking at the figures, over £14bn was spent with SMEs in 2018-19, a quarter of the £55bn total recorded procurement spend. Though this remains short of the goal of spending £1 in every £3 with SMEs by 2022, it still represents an extra £1.8bn compared to the previous year. For SMEs, this must keep improving. After all, it is they that have largely borne the brunt of the economic difficulties arising from the ongoing Coronavirus pandemic.B
Post expires at 9:03pm on Monday December 28th, 2020