The Procurement Act 2023 for SMEs and VCSEs: One Drop at a Time

The Procurement Act 2023 introduces key changes to simplify and improve public procurement in the UK, benefiting small businesses, startups, and social enterprises. Set to take effect on February 24, 2025, the Act aims to standardize and streamline procurement, particularly by removing barriers for smaller entities. Notable changes include:

1. Flexible Procurement Process: The Act introduces a 'competitive flexible' procedure to simplify bidding and negotiation with public entities. It opens up commercial frameworks, allowing broader supplier participation and faster, fairer payment terms across the supply chain.
2. Enhanced Transparency and Access: A revamped digital platform (based on the existing Find a Tender service) will allow suppliers to store business details for use in multiple bids, manage information, and set up alerts for relevant opportunities.
3. Oversight Mechanisms: A new Procurement Review Unit (PRU) will oversee compliance with the Act and safeguard public procurement practices. This unit includes:
4. Guidance for Suppliers: Suppliers are advised to familiarize themselves with the Act, engage in upcoming knowledge sessions, and consult the "Knowledge Drop" video series specifically tailored to SMEs and VCSEs.
5. Implementation Support: Suppliers must re-register with the Find a Tender service by 2025 to comply with the new requirements, which include submitting organizational details, accounts, and key compliance information.

What Does The Procurement Act 2023 Mean for SMEs and VCSEs?

This Knowledge Drop series provides an overview of the Procurement Act 2023, specifically tailored for small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) that work with the UK public sector, participate in competitive procurements, or are new to this arena.

It outlines the key changes to previous regulations and explains how these updates may benefit SMEs and VCSEs in engaging with the UK’s public, utilities, or defense sectors, as well as health and social care under the "light touch contracts" retained in the Act.

One Knoweldge Drop at a Time: Virtual Sessions

Join me in November to soak up one knowledge drop at a time.

Knowledge Drop for SMEs / VCSEs - Part 1: Thursday, 7 November 2024; 2pm

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Knowledge Drop for SMEs / VCSEs - Part 2: Wednesday, 13 November 2024; 2pm

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Upon registration you will receive an invitation to join the Zoom Video Call.