Wiltshire Business
How to get ahead of the Games
The 2012 Olympics are not just a business opportunity for London. LEIGH ROBINSON explains why its effects will be felt right along the Thames Valley and into Wiltshire.
Thousands of businesses in Thames Valley, including north Wiltshire, stand to benefit from a £8.6 billion boost to the region's economy in the run-up to the London 2012 Olympic and Paralympic Games, according to a new report from Lloyds TSB Business.
This is part of an estimated £21bn the 2012 Games is expecting to bring to the UK's economy.
In a wake-up call to small and medium-sized firms across the Thames Valley, the figure shows that it is not only companies in London that are in the frame for a share in this economic growth.
There are also opportunities for businesses across the rest of the country, and firms in sectors ranging from catering and construction to travel and transport could all take a slice of the pie.
Over the next five years, the estimate of the 2012 Games financial worth to small firms is expected to rise even further, as the opportunities for businesses crystallise even further - a fact which underlines the burgeoning business opportunity presented by the event.
Trevor Williams, chief economist, Lloyds TSB Corporate Markets said: "The impact the 2012 Games will have on the economy is becoming clearer as we get closer to the event.
"Our first estimates were that firms could take a share of £10bn from the Games, but this figure has increased sharply as the opportunities presented open up and as companies become more aware of the prizes that are on offer."
Ken Sankey, Thames Valley area director, Lloyds TSB Business said: "The 2012 Games is an exciting opportunity for local businesses in the Thames Valley.
"London might be hosting the 2012 Olympic and Paralympic Games, but it's important to realise that the economic ripples are continuing to spread and that opportunities are opening up across the country.
"There has been a lot of focus on the construction of the Olympic site, but the opportunities to get involved are much more varied than many might assume. For instance,
Lane4, a performance development consultancy which is based in Buckinghamshire, is coaching
local businesses on how to maximise opportunities in the region.
"Local firms in all sorts of sectors, from tourism to transport, could reap Olympic gold, if they explore the opportunities available to them.
"And although the Games last only a few weeks, the benefits to business will come before, during and long after the closing ceremony is over."
Lloyds TSB is the official banking and insurance partner of the London 2012 Olympic and Paralympic Games.
Businesses must sign up or miss out
The south west manufacturers' association is warning its members that they are missing out on potentially lucrative contracts for the London 2012 Olympics by failing to register their interest with the Games' organisers.
In only a few weeks, a new online resource called CompeteFor will be launched on the London 2012 website - www.london2012.com/
get-involved/business-centre/
index.php - giving companies access to business opportunities.
It will act as a brokerage service between buyers and potential suppliers, and CompeteFor will also facilitate access to support services and networking opportunities.
Although the region is second to London and the south east in terms of companies registering their interest for London 2012 information, the south west MAS believes only a relatively small number of these are manufacturers.
Now the Government's manufacturing troubleshooter is calling on manufacturers to register with CompeteFor when it launches, to avoid missing out on the £21bn of potential new business that's up for grabs nationally.
Public interest in London 2012 is already at record levels across the region. A recent study found the south west has the highest support for the Games in the country, with 87 per cent backing it.
Says Arthur Richardson, director with South West MAS: "UK companies will soon be able to compete for substantial contracts across a variety of sectors, including manufacturing.
"After all, the Olympic villages and facilities will require lockers, towels, seats, clothing, and a myriad of other products that UK manufacturers are perfectly positioned to supply."
One manufacturer in the region who has experience of tendering for Olympic contracts is Aggreko - the temporary power, temperature control and oil-free compressed air systems specialist.
The firm has recently been named as a supplier to the Beijing 2008 Olympics. Under the agreement, Aggreko will provide temporary power generation and delivery systems, temperature control systems, and related maintenance and repair services.
Jeremy Fish, Aggreko's general manager for the south west, said: "Tendering for Olympic work is a unique process. The secret is getting to understand it and ensuring you have the right resources in place to handle it."
Leading the campaign to get more south west companies involved in London 2012 is Team South West, the regional directorate for the London 2012 Olympic and Paralympic Games.
Guy Lavender, South West England director for the Games, said: "CompeteFor is the first time that any country hosting the Olympic and Paralympic Games has instituted this type of mechanism to ensure businesses from across the host country and those from outside traditional supply chains benefit.
"The South West business community should grasp this potential by registering following the national launch."
Factfile
There are 12,000 manufacturing businesses in the South West, generating £11.6 bn of GVA for the region, with 94 per cent employing less than 50 people.
The South West Manufactur-ing Advisory Service (MAS) helps local manufacturers improve productivity, reduce waste and compete more effectively in the marketplace.
Support includes funding for 50 per cent of the costs for ambitious companies to undertake Strategic Management Programmes.
Further information is available at www.swmas.co.uk
12:09pm Tuesday 5th February 2008
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