Organisers of the London 2012 Olympics have released figures suggesting that 70 percent of companies carrying work for the Olympic Delivery Authority (ODA) are small or medium sized businesses.
SME’s working on the project are more likely to be acting as subcontractors with many being matched with larger companies through the ‘CompeteFor’ service – described by organisers as “a business ‘dating agency’ that matches companies to opportunities supplying London 2012 contractors”.
London 2012 Organising Committee Chief Executive Paul Deighton said: ‘We are impressed with the UK business response to the London 2012 Business Network since its launch in January this year. The hard work of the London 2012 procurement teams and our business development partners in the three devolved nations and each English region is truly paying off.”
However although more than 10% of companies conducting work are located in the ‘Olympic Park Host Boroughs’ almost half of all companies gaining work are based outside the capital leading to a significant amount of the cash spent on the project leaving the capital.
In February 2007 the ODA admitted to the London Assembly that many small businesses wanting to tender for Olympic contracts were being hampered by complex European Union procurement rules.
Sponsorship opportunities for small business are virtually non-existent.
