Small firms encouraged to snap up Olympics contracts

Factoring is ideally suited to ambitious companies

Almost £50 million worth of contracts are still available to small-to-medium enterprises (SMEs), who are being urged to act quickly to take advantage, it has been revealed.

Currently 70% of suppliers to the Summer Games are SMEs, as more than 250 such firms have been awarded lucrative contracts.

Perhaps surprisingly, two-thirds of the companies are based outside of London, as the Olympic Delivery Authority has tried not to show bias towards companies in the capital.

There are still numerous contracts up for grabs in banner signage, security and hospitality.

All contracts available can be viewed online at www.competefor.com. Users need to firstly register before they can then browse what contracts haven’t been taken up yet.

Invoice Factoring for SMEs

Did you know that invoice finance facilities are ideally suited to expanding SMEs taking on bigger and better contracts.

Invoice factoring works by releasing cash tied up in unpaid invoices to encourage greater cashflow and provide added financial security.

Why not browse our website for more information on how invoice factoring can free up your business cashflow or contact us now to chat to one of our experts.