The City of London Corporation is aware that whilst the City
houses some of the richest concentrations of businesses in the
world, its neighbours include some of the country’s poorest
communities. It believes this contrast is unacceptable and works in
partnership to help build the economic, environmental and social
fabric of City fringe communities.
Local purchasing has an enormous potential to stimulate the
economies of neighbouring boroughs and foster associated job
opportunities. The bulk of all future jobs growth is expected to be
in the small and medium-sized enterprise (SME) sector rather than
through larger firms. The development of a vibrant SME economy must
be the basis of any sustainable form of regeneration in the City
fringes and neighbouring boroughs.
The Local Procurement Project supports the City Corporation’s
economic regeneration programme by encouraging competitive
procurement from small and medium size enterprises (SMEs) in the
boroughs immediately adjacent to the 'Square Mile'. It has three
phases:
Phase One: Influencing the City of London’s
procurement officers Working with procurement officers across the
City of London to include local SMEs in all quoting / tendering
opportunities.
Phase Two: Influencing the City of London’s
Supply Chain Requiring trade contracts and planning agreements with
first tier suppliers to make sub-contracting opportunities
available to local SMEs.
Phase Three: Influencing the City Encouraging
City firms to adopt local procurement as part of their social
responsibility and business competitiveness.
These phases run concurrently rather than in sequence. The Local
Procurement Project team, run out of the Economic Development
Office and the Strategic Procurement Unit, works continuously to
reinforce the principles enshrined in all three phases of the
initiative, both within and beyond the organisation.
For more information about the Local Procurement Project at the
City of London Corporation, please see the links at left.
See more information about how City businesses can
increase their use of local suppliers.
Coping with the economic downturn
See our coping with the economic downturn pages for sources of
advice and
support available to SMEs on a range of issues
affecting your business.