WHY CHANGE IS COMING TO THE WAY WE WILL ALL DO BUSINESS

Join Us to Learn About How the Social Value Act (2012) and New Public Procurement Act (2023) Will Affect Your Business.

The reforms will shake up and improve our outdated procurement system, so that every procurement pound spent, gives greater social value for money for our public services. Public procurement will change forever when the Procurement Act 2023, with its Social Value and Wellbeing principles, becomes mandatory law in October 2024.

As most businesses are within a supply chain involving public bodies, or large private organisations, we all need to understand and adapt to these procurement law changes. However far removed you might think you are; business will always be an eco-system of interconnected supply chains.

Does your company currently tender for Local Authority / government contracts? Are you looking to expand into this arena or, are you a key supplier within a supplier chain? If so these Acts will particularly affect your company.

The 'Public Procurement 2023 Act,' will transform the government's procurement process, by levelling-up the business playing field, in giving all Social Value Ready SMEs access to tender for £100 billion of government contracts.

Start-ups, scale-ups, and SME’s stand to benefit the most.

THE BIGGEST CHANGE OF ALL… is that the decision-making criteria for awarding contracts is no longer driven solely by price, nor quality, nor history, nor personal relationships. No longer does the ‘Most Economically Advantageous Tender’ win, but the ‘Most Advantageous Tender’.

The only point of difference in contract bids will be the quality of the social value.

Those smaller, agile, ambitious, businesses who embrace social value and wellbeing, will be able to dazzle procurers and win more work. This represents a fabulous opportunity for smaller businesses to drive innovation, deliver better outcomes, and redefine the business landscape in their favour.

Those businesses who ignore the changes to the procurement law, risk losing existing work and losing out to Social Value Ready competitors. The government now requires its procurement officials to ‘explicitly evaluate social value and wellbeing in all contract bids’

Speaker

David Riley - CEO, SVRE

By the end of the talk, you will:

• Have a clear understanding of the impact that social value and wellbeing, and the new Public Procurement Act will have on your business, and the UK and global business landscape.
• Understand the 8 key areas a company will be judged upon in terms of a Social Value policy and embedded strategy.
• Appreciate potential opportunities, and risks, to your business's health and growth.

You will also be invited to a free membership of the SVRE SME Business Hub, for social value guidance, support, and governmental framework updates, and for possible collaboration with other SVRE SMEs to bid for contracts.

We'll also show you how to take the free SVRE Ready self-assessment and give you a free one hour 1 to 1 consultation to explore your results.

Location: The Bridge Room, Fareham Innovation Centre

Parking: FREE on site parking

Afterwards: The SVRE team will be in the co-working space until 1pm to answer

any specific questions attendees may have.