Opportunities for Business and Employment
The success of London 2012 will depend on the involvement of businesses of every size. Most supply chain opportunities for small and medium sized businesses will start from 2007 onwards, once the main construction contracts begin to be let. More information is available on the London Business Opportunities website.
The LDA has prepared an update designed to the share the information we do have at this early stage about anticipated supply needs for the Games, the broad timetables and delivery structures. It also suggests ways that businesses can get a head start for when contract opportunities do become available.
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Will the London 2012 Olympic Games create any opportunities for small and medium sized enterprises (SMEs)?
Yes. The preparation for these events will be a massive opportunity for companies of every size in London and across the whole of the UK to showcase their products & services, find new trading partners, enter new markets and compete for new contracts. For the next few years, initial opportunities will be focused on infrastructure. However, the Games will also provide potential for businesses in a range of different industries including construction, professional services, tourism / hospitality, leisure, transport, retail, food and the creative and cultural sectors.
How will small businesses be able to access these opportunities?
Regional Development Agencies (RDAs) throughout England already assist in co-ordinating extensive support for business, especially SMEs. Your local RDA can be found on www.englandsrdas.com/home.aspx
Similarly support in Scotland,Northern Ireland and Wales can be found on the following websites:
- Scotland - www.scottish-enterprise.com and www.hie.co.uk
- Northern Ireland - www.investni.com
- Wales - www.wda.co.uk
In addition to existing services, there will be a need to develop more tailored support initiatives (such as Olympic business clubs and market intelligence networks) specially geared for the needs of the Games.
The stakeholders for London 2012 are now looking closely at building on previous successful models, like those used in Sydney for example, and discussions are taking place about the best way to set these up. Any London 2012 business initiatives will be up and running and integrated within regional support provision well ahead of major construction milestones.
A fair procurement strategy will also be devised by the Olympic Delivery Authority which will include ethical and sustainable policies.
Is there anything that businesses can do now to prepare themselves ahead of these opportunities?
Yes, there is. In order to increase the chances of winning contracts, SMEs need to be in a position where they can compete effectively - or be 'fit to supply'.
London already has a number of excellent programmes in place to help SMEs develop this knowledge. A good example is the LDA's pan-London initiative, 'Supply London'. This programme works with SMEs and helps provide the support necessary to become fit to supply. More information on this service can be found on www.businesslink4london.com/supply. For those outside London, please contact your local RDA or the Scottish, Northern Irish or Welsh organisations listed above and they will provide information on local schemes.
Other recommended services are provided by:
- Manufacturing Advisory Service www.mas-london.com
- Jobnet run by London Riverside www.london-riverside.co.uk/html/jobopportunities/jobnet.htm
- Fit to Supply at www.fittosupply.net
How can we be sure that London's diverse business community will benefit?
The LDA and other partners have been working for some time to ensure London's diverse business community can benefit more from business and skills support. The LDA currently invests in specific support initiatives such as Diversity Works and the Procurement Development Programme, designed to support predominantly black, asian and minority ethnic businesses. For more information: www.tendertowin.com.
What is happening to ensure local people in east London enjoy their fair share of the Olympic job opportunities?
The Olympics is a huge opportunity for local communities in east London - a £17 billion investment in the capital's transport system, the construction of an Olympic Park and the creation of world-class sporting facilities will breathe new life into a high priority regeneration area and generate a huge demand for local labour. It is important that local communities are involved not just in the process of delivering the best Games ever, but also in securing a lasting, positive physical and social legacy for future generations.
Local employment, affordable housing, training initiatives, section 106 agreements and community health and education, are all key considerations in the planning going forward.
The LDA is now working closely with the five local boroughs (Hackney, Newham, Tower Hamlets, Waltham Forest and Greenwich) to develop proposals to set up a Job Brokerage service which will be based in the Lower Lea Valley. This will provide the link between the main employers and well-established job brokerage services already in these Boroughs. It will provide a single day to day link with main contractors; information on vacancies; intelligence on skills requirements and training provision; support for client employability and mentoring; pre-employment training; recruitment & interview services; and possible aftercare/progression programme for new and existing employees.
Companies that win contracts to construct and deliver goods and services for the London Games will be asked to adopt this structure in their recruitment practices. This will include measures to ensure companies provide intelligence of labour opportunities and demand, and use reasonable endeavours to source employees locally.
What about people and businesses based outside these boroughs? How will they benefit and what measures will be put in place to ensure they can access opportunities?
The proposed Olympic Intelligence Unit would provide information on likely future job and contract opportunities. This will enable providers, wherever they are based, to tailor services to help prepare people and businesses to access opportunities associated with the Games.
The LDA will work with partners such as Jobcentre Plus, the Learning & Skills Council and Business Link, to ensure that existing networks are utilised wherever possible.
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