A new online business contracts portal has been launched last week to provide thousand of UK-based companies with the opportunity to grab a piece of the London Olympics 2012 contract market.
20,000 contracts, worth a collective GBP 6 billion, will be published online and companies, both large and small, will be encouraged to bid.
The website, known as CompeteFor, is the brainchild of the Olympic Delivery Authority, the London 2012 Business Network and London 2012.
According to the Guardian, the three parties hope that a fifth of the estimated 75,000 supply chain contracts will be provided on the website although.
Of the 500 or so contracts that have already been attributed, worth more than GBP 1 bn, two thirds have been awarded to small and medium businesses and nearly half of them going to London companies.
The Chief Executive of the LDA, Manny Lewis, said in a statement that “CompeteFor will help open up the 2012 supply chain for London businesses making sure as many Londoners as possible have the opportunity to benefit from the Games. Developing and launching this website before the majority of contracts are advertised shows how the LDA and the 2012 Games are already delivering a lasting legacy for the capital."