In 2016, there were 414,000 business births in the UK. With such high rates, how can your business find opportunities that it can grow from?
Working with and supplying to the public sector can help your business expand its customer base. The public sector marketplace is extremely attractive due to the number of low value tender opportunities that are available; and now more than ever before, the UK Government is opening up bidding opportunities to micro and small businesses.
Finding opportunities in this lucrative market is often the hard part. However, Supply2Gov has a database of low value tenders across the UK and Republic of Ireland that are available to bid for right now.
Before you start bidding, find out more about low value tenders below.
Low value, low competition
Bidding for low value tenders is something that your competitors may not have thought about – and with lower competition, your business stands a better chance of winning such tender opportunities.
Low value tenders give sole traders and micro businesses the chance to win work with the public sector, and in most cases multinational companies (MNCs) are unlikely to bid for these opportunities. This opens the door for micro businesses to bid and win.
Tenders below the value of the public procurement thresholds are not carried in the OJEU. Public procurement regulations mean that if a tender value is under the threshold published, the public sector body awarding it does not need to advertise in the OJEU; this reduces the number of potential companies who are aware of the opportunity.
More opportunities
Although low value tenders may not bring in as much money as higher value tenders, suppliers may be able to complete more such tenders within a given period than they would completing just one high value opportunity.
In most cases with low value tenders, the timespan of the contract will be shorter than an OJEU notice. An OJEU tender could last as long as four years before it needs to be retendered. As for low value tenders, they could be as short as one year; and even if you do not win the first time round, you can easily prepare and bid again in such a brief period.
Tender alerts for micro businesses
Having limited resources is a problem that faces many micro businesses and sole traders, and it is often the reason why they do not have sufficient time to seek out public sector contracts that are suited to their business.
If you are always missing out on low value tender opportunities, setting up to receive tender alerts will be the most efficient way of finding public sector contracts for your micro business.
Supply2Gov offers a tender alerts service to its customers, giving them the option of four different subscription levels. Our researchers monitor over 3000 sources and we help organisations find business opportunities that are relevant to them.
How to get started with low value tenders
You can register for free today and set your preferences in your Supplier Profile. This will reduce the time you spend looking for relevant contract opportunities and will allow the opportunities to come to you.