Special Focus
16 BUSINESS OPPORTUNITIES
Special Focus
Making the Most of 2012
Business Opportunities....
The London 2012 Games will not just be a spectacle for the British public to enjoy. For the country’ s small businesses it presents one of the most significant opportunities in half a century.
The UK’ s many thousands of small firms will play a critical role in making the Games happen- and no matter what their size, industry or location, it will be a golden opportunity for these firms to expand, diversify and reach new markets.
It’ s hard to imagine a sector which doesn’ t stand to benefit from the Games. Whilst the current focus has been on the large scale buildings and infrastructure projects, rapidly the reach of the Games will extend and sectors from tourism to transport, marketing to manufacturing, retail to catering will all begin to benefit from the ripple effect.
And remember size really doesn’ t matter. The larger projects will not be the exclusive domain of larger organisations. Sub contracting and supplier opportunities will be plentiful and smaller businesses should also think about partnerships to better pursue opportunities.
And it’ s not all about location, location, location. The important thing for small businesses to recognise is that the opportunity is available nationwide. Research by Lloyds TSB shows that thousands of businesses across the UK stand to benefit from a £ 21 billion boost to the country’ s economy in the run up to the Games and this economic growth is spread throughout the UK. For example firms in the North are in the frame for a boost of £ 4.4 billion.
The challenge for businesses is to begin thinking about how they will turn these opportunities into more sustainable business growth ideas and although the opening ceremony is four years away, businesses need to take action now in order to grab a piece of the pie.
To help businesses get fit to tender for 2012 work, Lloyds TSB has launched the
Official Business Guide for London 2012. The guide has been designed to help companies of all sizes, from across the country, seize the enormous commercial opportunities being created by the London 2012 Olympic and Paralympic Games.
The guide offers advice on how to get‘ fit to supply’, explaining every aspect of the supply chain including the unique procurement policies involved. It also covers useful sources of support such as the London 2012 Business Network, and practical financial advice. The information contained in the Guide is based on interviews with dozens of experts, including officials from the Olympic Delivery Authority( ODA) and the London Organising Committee for the Olympic Games and Paralympic Games( LOCOG), Lloyds TSB, regional development agencies- and businesses with Olympic and Paralympic Games supply chain experience.
To find out more information on the Lloyds TSB Official Business Guide for London 2012, visit, www. lloydstsb. com / london2012business. engage | uk ISSUE SEVEN 2008