Construction firms urged to go for gold by taking opportunities presented by the Olympics

CONSTRUCTION companies from across the East Midlands were urged to seize the opportunities currently available in their sector through the London 2012 Olympic and Paralympic Games and beyond, at an event held by Lloyds TSB and the East Midlands Development Agency.

Lloyds TSB arranged the ‘Meet the Buyer’ event on Tuesday 15 November, held at Derby County Football Club in Derby, as part of series of similar regional events to highlight the construction opportunities available through the official London 2012 tendering website, CompeteFor, and how to access them.

While most of the larger, direct London 2012 contracts have already been allocated, CompeteFor still has opportunities for SMEs to tap into a wider pool of contracts further down the supply chain.

Representatives of these larger contract winners, including a Tier 1 construction and support services company, were present to explain what they look for in smaller firms competing for supply chain tenders, how they work and what opportunities are available at the current time.

The event, which included speakers from the Olympic Delivery Authority, also highlighted the other construction opportunities available through CompeteFor, including contracts relating to the ongoing £17 billion Crossrail Project in London.

Chris Daniels, head of Wholesale London 2012 for Lloyds TSB, said: “In addition to the more widely known London 2012 opportunities, the Metropolitan Police, Westminster City Council, Transport for London, and DEFRA (Department for Environment, Food and Rural Affairs) have also signed up to use CompeteFor to advertise their procurement needs beyond the Games.

“This allows SMEs access to tendering opportunities they would not have had otherwise, and lays the ground for a continuing legacy beyond London 2012.

“We’re committed to providing support to our customers to help them take advantage of the construction contract opportunities available, and during the first nine months of 2011 we provided £32 billion of committed gross lending to UK businesses, of which £9.6 billion was to SMEs.”

Steve Mulligan, Lloyds London 2012 business lead for the East Midlands Development Agency, said: “Construction firms across the East Midlands have played a crucial role in the building of many of the iconic buildings on the Olympic Park and have won over £300 million of business from London 2012 opportunities.

“We are keen to build on this success and are delighted to work closely with Lloyds TSB to deliver this event, which aims to raise awareness of the thousands of construction contract opportunities continuing to be advertised through CompeteFor.

“These opportunities relate not only to the redevelopment of the Olympic Park, but also to the Crossrail project, currently Europe’s largest civil engineering project, which has selected CompeteFor as its preferred procurement route for all contracts below EU thresholds.”