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SMEs could lose out at Olympics, say experts

Jan 24 2008

The Federation of Small Businesses (FSB) has warned that although the Olympics appears to offer good opportunities for SMEs to get involved, there is a worry that only larger companies will benefit.

Going ahead in 2012, the Olympics should 'in theory' allow entrepreneurs to develop new start-ups and come up with new business ideas.

However, Simon Briault, spokesperson for the FSB, says: 'There is at the moment quite a bit of scepticism among our members and among small businesses generally, that they will actually be able to get a piece of the pie.'

The worry is that the majority of contracts will go to the big companies and their supply chains, he adds.

A new website called CompeteFor, which will act as a business 'dating agency', is to be launched by the Olympic Delivery Authority.

According to the London 2012 Business Network, more than 75,000 future business opportunities worth an estimated £6 billion are expected to be allocated over the coming years.

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