Supporting your local business community

The government's Local Enterprise Growth Initiative (LEGI) promotes the use of public sector spending to increase the number of entrepreneurs and workers in each relevant area and to support business growth while also reducing the number of firms having to close.

LEGI funding and other initiatives aimed at supporting the ‘local economy’ create a requirement for authorities to know not only how much they are spending on what and with whom, but also who else they could be using as suppliers from their local community. The Observatory delivers against this requirement by facilitating the identification of and communication with local businesses in those categories where your organisation currently spends £1,000 or more in total – whether you currently trade with them or not.

Using the Analyse, Compare and Source Local tools within the Observatory helps you to do the following.

• Understand how much you spend locally.
• Find out how much you spend with suppliers who are SMEs.
• Determine which suppliers are overly dependent on you for the bulk of their income.
• In comparison with others, calaculate what proportion of your overall non-pay spend is a realistic goal for spend with the SMEs and newly created suppliers.
• Determine if you are more or less exposed than your peers to the risk of an important local business failing, in the event you cease to trade with it.
• Generate lists of prospective suppliers and export their contact details to allow rapid production of communications designed to inform local suppliers of a supply opportunity.
• Populate your advertising portal with the details of prospective local suppliers and push communications to them.

To arrange a meeting to discuss how implementation of the Observatory can help your organisation source more goods & services from local suppliers then please contact us.