It is designed to help companies across the UK compete for thousands of business opportunities helping deliver the London 2012 Olympic and Paralympic Games.

 

The Olympic Delivery Authority (ODA) and expect to allocate over £6 billion of work as part of an estimated 75,000 future business opportunities covering direct contractors and their supply chains over the coming years.

 

The ‘London 2012 Business Network’, launched to over 600 business people at an event at Old Trafford today, and accessible at www.london2012.com/business, will help companies compete for London 2012 business, London officials claimm.

 

The Network has three component parts; essential information on upcoming opportunities and how to supply London 2012; business events; and the new ‘CompeteFor’ service, a business ‘dating agency’ that will match companies to thousands of opportunities supplying London 2012 contractors.

 

Up to a fifth of London 2012 supply chain opportunities are expected to go through the Compete For system.

 

Launching the new London 2012 Business Network in Manchester , alongside Olympics Minister Tessa Jowell and ODA chairman John Armitt, London 2012 chairman Sebastian Coe said: “London 2012 is already providing a unique opportunity for businesses throughout the UK to raise their profile and reputation on the global stage, and the amount of big sporting events coming to the UK, as a result of us winning the right to host the Games could make this a ‘golden decade’ for major events in the UK and, therefore, British business.

 

“Delivering the Olympic Games and Paralympic Games is a massive logistical operation, requiring goods and services from a large number of firms.

 

"Businesses the length and breadth of the country will win contracts and we hope gain a huge amount of experience of what it takes to stage and host big sporting events.

 

"This should lead to a new ‘export market’ for the UK .

 

"The success of the Sydney Olympic Games in 2000 not only led to a large increase in direct foreign investment in New South Wales – it also led to Australian businesses establishing an international reputation for their skills in delivering big global events.

 

"London 2012 gives UK business this opportunity.

 

"The London 2012 Business Network will help companies make the most of the opportunities ahead.

 

"It will enable companies to compete for the thousands of contracts that will be available and make sure companies the length and breadth of the country are aware of and can prepare for the opportunities that staging the Games in London in 2012 will bring.”

 

Armitt said: “We want London 2012 to be a showcase for both sporting and business excellence.

 

"The ODA has already let contracts worth over £1 billion, most of these opportunities have been won by small and medium sized companies and around half are based outside of London .

 

“The vast majority of business opportunities remain to be let and this year represents a huge opportunity for UK businesses. 

 

"In 2007 understandably there was a lot of focus on costs. In 2008 this will switch to the benefits this investment will bring, including jobs and skills.

 

“We want to help businesses make the most of the opportunities ahead.

 

"The first ever ‘business dating agency’ for suppliers on a project of this scale, which goes live today as part of the new London 2012 Business Network, will give companies large and small a once in a lifetime opportunity to support the delivery of the London 2012 Games.”

 

Jowell said: "The London 2012 Business Network will provide invaluable support for companies and is one of the keys to unlocking the £6 billion of contracts that will be up for grabs thanks to the Olympic and Paralympic Games.

 

"This is the concrete dividend the UK will receive from London 2012, leaving a positive legacy for decades to come.

 

"Businesses, their employees and the wider economy will all reap the rewards.

 

"Almost all the contracts so far have gone to British companies with a real impact right across the UK .”

 

The CompeteFor service is launching now, well in advance of the bulk of London 2012 opportunities coming on stream, in order to give UK companies of all sizes plenty of notice to register and get familiar with the service.

 

CompeteFor, which is co-funded by Regional Development Agencies, will also link companies with business improvement services, boosting the long-term competitiveness of companies across the UK .

 

CBI Deputy Director-General John Cridland said: “London 2012 offers a fantastic chance for businesses to showcase their capabilities, win new contracts, and help create a lasting legacy.

 

“It is important that businesses of all sizes throughout the UK get the chance to contribute to, and benefit from, this once in a generation event.

 

“The business network will drive competition and innovation by spreading awareness of the many opportunities that the Games are creating.”

 

Federation of Small Businesses Co-ordinator for the London 2012 Games Nick Winch said: “The delivery of the London 2012 Games will provide opportunities for businesses of different sizes and varying sectors.

 

"I welcome the launch of the London 2012 Business Network and development of CompeteFor and believe it can open up business opportunities in the 2012 Games to small and medium sized companies. Registering on CompeteFor should be a priority for all SMEs.

 

"Not only will it provide them with  access to Games contracts  but registering on CompeteFor will give SMEs a quick 'MOT' and through access to business support  a helping hand on the way to greater business success."

 

Business Minister Stephen Timms said: “London 2012 is a great opportunity for British business and I want to encourage as many firms as possible to benefit from the Olympic and Paralympic Games.

 

"CompeteFor will give firms access to our business support services through Business Link which will help them grow and develop their business, not only for the Games, but as a lasting legacy for the future.”

 

Joint-Chair of the Ethnic Minority Business Task Force, Adeeba Mailik said: “The ethnic minority taskforce has as one of its strategic objectives the desire to ensure a larger number of ethnic minority owned businesses engage in public and private sector procurement.

 

"I believe the London 2012 Business Network will facilitate diverse businesses in accessing London 2012 G ames opportunities and seeking help, through Business Link, to do so. I will certainly be urging ethic minority businesses to register with the London 2012 Business Network."

 

How CompeteFor works:

 

· ODA and LOCOG will advertise their direct contract opportunities online through CompeteFor and direct London 2012 contractors appointed will be encouraged to advertise their supply chain opportunities through the system. For example the Olympic Stadium construction contractor ‘Team Stadium’ has opened the service with an advert for their site accommodation cleaning contract.

 

· Companies at every level of the London 2012 supply chain will be encouraged to advertise their supplier opportunities through CompeteFor.

 

· After registering basic company information any interested business can view the opportunities advertised. Companies can then complete a business profile, which involves answering a series of simple questions, to be able to compete for opportunities.

 

· A company’s business profile is automatically tested against a small number of minimum standards in areas such as health and safety. If these requirements are not met the company is automatically referred to tailored business support to help improve their performance. This service is provided by Business Link in England and the support services in Wales , Northern Ireland and Scotland .

 

· Once a company’s profile is successfully published on CompeteFor they are automatically matched to opportunities which suit their business and invited, by email, to apply for them by filling out a short, tailored application form. The buyer advertising the contract then selects a shortlist of companies and invites them to formally tender through the buyer’s own procurement system.

 

· Details of the winning bidder(s) are published on CompeteFor and unsuccessful bidders receive feedback from the buyer. Throughout the process local business support agencies are on hand to help companies maximise their chances of success.

 

The ODA has also published details of the first phase of direct contractors already appointed on the London 2012 Business Network to enable companies to identify supply chain opportunities. Even at this early stage:

 

· Over 500 contractors have won contracts worth over £1 billion in total.

 

· Over two-thirds (68 per cent) are small and medium sized.*

 

· Half (50 per cent) are based outside of London .

 

· One in ten (11 per cent) is based in the Olympic Park Host Boroughs.

 

· Over 98 per cent are based in the UK .

 

· Around 15,000 companies have registered to receive e-alerts on the London 2012 business website, over two-thirds based outside of London .