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Small and medium firms fight for Olympic billions

UK-based small and medium enterprises (SMEs) are benefitting from the business opportunities offered by the Olympics.

Latest figures from the Olympic Delivery Authorioty (ODA) show that SMEs make up 70 per cent of the 650 companies which have secured £2 billion worth of Games related work so far.

Out of these 98 per cent of the companies are from the UK and 46 per cent are based outside the capital.

The ODA has also confirmed that SMEs make up nearly 90 per cent of the 18,000 companies registered on CompeteFor – an online system which matches contractors with London 2012 opportunities.

John Armitt, ODA chairman, said: 'I’ve talked to business across the UK and there is a real appetite for helping us deliver the London 2012 Games.

“These figures show that smaller businesses are making the running and getting the biggest benefit so far, as well as getting themselves in pole position to compete for future work in the supply chains of our major contractors. It is a challenging project and we’re working with the best of British business to keep well on track to deliver a great Olympic and Paralympic Games and a lasting legacy.'

Paul Deighton, London Organising Committee (LOCOG) Chief Executive, said: “With the Organising Committee's procurement for Games-time goods and services starting in earnest in 2009 there is all to play for. We are encouraged to see so many UK businesses have registered on the CompeteFor system to get well placed to make the most of this once in a lifetime business opportunity.”

The ODA and LOCOG expect to allocate over £6bn of work to direct contractors and their supply chains over the coming years through 75,000 projects.

Direct contract opportunities will continue to be advertised online through CompeteFor. For more details click here.