29 January 2009
New support for local SMEs to win business in the Square
Mile
City of London Corporation launches six projects to
support local businesses in the City's supply
chain
As the economic downturn continues to threaten small and medium
sized enterprises (SMEs), the City of London Corporation has
unveiled six new supply chain business support projects to support
the productivity and sustainability of SMEs in the City’s
neighbouring boroughs – Hackney, Tower Hamlets, Camden, Islington,
Lambeth, Southwark and Westminster. The projects will offer
one-to-one guidance to SMEs; improve their contacts with the City
supply chain; develop the quality, structure and price of the goods
they offer; and enhance their pitching, presentation, negotiation
and tendering skills.
Today’s initiatives are a direct response to the recommendations
of research published in September 2008 on ‘The City of London’s
Supply Chain and its relationship with the City fringes,’ jointly
commissioned by the City of London Corporation and the City Fringe
Partnership. The research found that – with the type of support
unveiled today - City fringes’ SMEs could improve their share of
City expenditure from the current 4% to as much as 13% of the City
supply chain. This would stimulate the local economy and create
jobs for residents in the adjacent boroughs.
The business support projects form a 15 month-long programme of
activity including: programmes focusing on quality and management
assistance; one-to-one sessions with business counsellors; seminars
improving SMEs knowledge of the tendering process and workshops
covering quality assurance, environmental, and health & safety
policies. This will culminate in a large scale ‘Meet The Buyers’
event scheduled to take place in March 2010 in which 125
tender-ready SMEs in the City fringes will meet over 30 City
businesses and their outsourcing firms.
The City of London Corporation is leading the drive to spend
locally - it has channeled 25% of its own spending to suppliers in
the target boroughs, while a further 10% is spent in other inner
London areas and 15% in Outer London.
Stuart Fraser, Chairman of Policy and Resources at the City of
London Corporation, says, ‘Small and medium-sized businesses tend
to rely on one or two main clients. We’re working to help SMEs in
the City fringes review their business pipelines and allow them to
better access business on their doorsteps.’
John Wright, Chairman of the Federation of Small Businesses,
says, ‘We are delighted that the City of London Corporation is
working to support local small businesses. This mirrors our Keep
Trade Local campaign which calls for measures to support
independent businesses and sustain the high street.
‘Small businesses are as important in the City of London with
its major corporations as it is in the outer suburbs of the
capital. The small business sector is a vital source of local
income and local employment and helps develop and sustain areas.
These efforts should help raise awareness of how business owners
can access local projects and feed back into the local
economy.’
The business support projects will be managed by East London
Small Business Centre, Association of Community Based Business
Advice, Social Enterprise London, GLE oneLondon and Business to
Business in Hackney, Tower Hamlets, Southwark, Westminster,
Lambeth, Islington and Camden. They will sit alongside an existing
substantial business support programme by the City of London
Corporation to facilitate the development and growth of small
businesses in the City fringe through the provision of premises,
finance and guidance.
Cllr Guy Nicholson, Board Chair of the City Fringe Partnership,
says, ‘The findings of the Supply Chain Research report will allow
organisations such as the City Fringe Partnership to develop
business support activities that are relevant to local firms. By
responding to the recommendations, the outcome will be a local
business base better prepared to seize the opportunities and meet
the challenges of operating within City supply chains.
Ends
For further information, case studies or quotes, please contact
Rain UK – Rosalind Jeffcoat or Neil Cassley on 00 44
(0)20 7222 4345 or email
rosalind.jeffcoat@raincommunications.co.uk
Notes:
For more information about the City of London’s SME support
programme, please visit
/businesssupport or see below.
The City of London Corporation
The City of
London Corporation is the “business authority for the business
district” and supports the international financial services
industry based in the UK, with its heart in the Square Mile. It
provides local authority services for the Square Mile but also
works across wider London and UK.
The City of London’s Supply Chain and its relationship
with the City fringes,’ September 2008
Download a copy of the report here
The City Fringe Partnership
The City Fringe Partnership (CFP) is a private and public sector
organisation whose aim is to facilitate economic success for the
communities and small and medium-sized businesses around the City.
Established in 1996, its principal aims are to encourage small and
medium-sized business growth and to develop employment
opportunities in industries key to the City Fringe and London
economy. For further information please visit
www.cityfringe.org.uk
SME Management Assistance Project
The East London
Small Business Centre (ELSBC) will support SMEs from the City’s
neighbouring boroughs (mainly Tower Hamlets) through a series of
seminars focusing on quality and management assistance issues,
supplemented by one-to-one sessions by ELSBC business counsellors
to help SMEs improve the quality of their offer, potentially
working towards formal accreditation.
Supporting City Fringe SMEs
The Association
of Community Based Business Advice (ACBBA) will support SMEs
from the boroughs of Islington, Camden, Southwark and Lambeth
through a programme of events, workshops and seminars aimed at
(predominantly Black and Minority Ethnic-owned) SMEs to improve the
SMEs' contacts with the City and their knowledge of the tender
process.
Social Enterprise Supplies
Social Enterprise
London (SEL) will support social enterprise SMEs from all of
the City fringe boroughs through a trade fair and networking event
for up to 100 social enterprises and buyers, followed by a series
of seminars aimed at improving the structure of selected social
enterprises and the price/quality of the goods they offer, and
training to assist in submitting compliant bids.
Ready 2 Supply
GLE
oneLondon will deliver ‘Ready 2 Supply,’ a series of
nine workshops to prepare 120 City fringe SMEs to access the City
supply chain. After one-to-one diagnostic interviews, SMEs will be
referred onto workshops covering quality assurance, environmental,
and health & safety policies, as well as pitching, presentation
and negotiation skills and joint tendering.
Selling to the City
Business to Business (BtoB) will deliver
‘Selling to the City,’ a programme of training sessions to support
350 SMEs from the City fringes to become ‘tender ready’ for supply
opportunities to City businesses. Topics covered will include
writing winning tenders, valuing diversity, presenting to win,
health & safety, quality assurance and sustainability.
Meet the
Buyers
Business to Business (BtoB) will deliver a
large scale ‘Meet the Buyers’ event to take place in March 2010.
This one-day event will assist 125 SMEs based in the City fringes
to win in excess of £600,000 of new business from 30 City
businesses and their outsourcing firms. BtoB will pre-arrange 1,000
10-minute meetings between City buyers and City fringe SMEs.
Designed as the culmination of the City of London’s City supply
chain business support programme, it is expected that a number of
the SMEs supported throughout the programme will take part in the
Meet the Buyers event.