Small and Medium Enterprise Action Plan
This plan highlights the measures HMT is taking to ensure SMEs can access new opportunities to supply the department, providing clear spend targets for the department to work towards.
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Small businesses make up 98% of the business population. The UK Government aims to spend £1 in every £3 with SMEs, directly or through the supply chain, by 2022.
A clear objective of this is to increase growth for SMEs, but achieving this will also drive forward the national economy. To meet the 33% target, various measures have been introduced to make public procurement more accessible, breaking down barriers for SMEs who want to supply to the public sector. As SMEs make up a significant part of the UK economy, supporting their growth aligns to HMT’s responsibility for ensuring the economy grows sustainably.