City opens doors to SMEs - Business Works
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City opens doors to SMEs

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A fter four years spent working to integrate London small businesses and City firms to broker more commercially rewarding relationships, the City of London Corporation has identified the difficulties faced by SMEs in supplying to City firms. The Corporation has been running an intensive three-week series of events designed to overcome the barriers to increase small businesses’ share of the City’s £13billion supply chain.

Part of the ongoing £300,000 Ready to Supply to the City programme funded by the City of London Corporation, the series invites leaders of Small and Medium sized businesses (SMEs) to meet City firms.

Coming up against problems such as a lack of understanding of complex process issues, and the size of potential contracts to a lack of networks and contacts to access the City’s supply chain, the series enables small London businesses to come away with practical tips on making the most of the commercial potential on their doorstep.

Past events have included: a ‘Procurement Workshop’ and ‘Good Practice in Procurement’ and there is a chance to ‘Meet the Buyers’ on Thursday 7th July. The event will introduce City firms to local small businesses suppliers, to scope out opportunities.

"The commercial potential of selling to City businesses for SMEs in our neighbouring boroughs is huge," says Stuart Fraser, Chairman of Policy and Resources, Partnerships Manager at the City of London Corporation. "It is vital that we support the burgeoning local SME community and the next three weeks should provide SMEs and City firms alike insight into how to work together to form commercially rewarding relationships."

The July 7th event will focus on a two-way interaction, bringing together both sides of the debate. For City firms, there will be first-hand feedback by SMEs on how to better integrate SMEs into their supply chain. The City of London Corporation has also developed a guide to local purchasing, to give City firms a step by step guide on how to work more closely with local small businesses.

More information on the Ready to Supply the City programme and how to get involved can be found here:

Further information on the Local Purchasing toolkit can be found here:

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