According to a study commissioned by the East of England Development Agency (EEDA), companies in the region could secure between five and 10 per cent of the overall £38 billion set to be generated from London 2012 business opportunities. This equates to between £190 million-380 million worth of contracts potentially coming into the region.
The study also showed that the total economic benefits to the region could exceed £600 million. Yet only 5.7 per cent, of all the businesses registered to receive e-alerts about these procurement opportunities, on the official 2012 website, are from the East of England.
Stephen Castle, EEDA board member, who is championing London 2012 across the region, said: “Businesses in this region must grab the bull by the horns and sign-up or they risk losing out. London 2012 is a once in a lifetime opportunity for businesses to give themselves and the regional economy a huge boost, but I fear many will miss out on the opportunities to tender for, and win, contracts because they won’t even know about them.”
The 2012 Business Centre, on the official Games website, contains a host of invaluable information for those interested in competing for London 2012 contracts.
Up to 50,000 contracts will be on offer, to ensure all the venues and infrastructure required for the Games are in place on time. The Business Centre also includes a Supplier Guide and an online e-tendering site featuring 2,000 contracts that are open for online bids.
Robin Webb, managing director of advanced engineering design company, Robin Webb Consultancy Ltd, worked on the $560 million Olympic Stadium for the Sydney 2000 Games and says it brought many benefits to his company.
He said: “It is of extreme importance for businesses in the East of England to investigate and ‘sound out’ key business opportunities that arise from London 2012. I hope that with support and guidance from organisations like the Olympic Delivery Authority (ODA) and EEDA, we and our regional business colleagues will be able to engage with the Games to the benefit of both our business and the wider regional economy.”
To help businesses get an idea of the types of contracts that will be up for grabs and the benefits of tendering for them, EEDA will be hosting a special advice session at Destination Growth 07. The session called ‘Business Opportunities from the London Olympic Games and Paralympic Games’ will be led by Morag Stuart, head of procurement at the Olympic Delivery Authority (ODA).
It will give businesses a much better idea of the types of contracts set to be procured over the next five years, how they can get involved, how to prepare tenders and win contracts, and the benefits a contract can bring.