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<p>Small and medium-sized enterprises (SMEs) are the backbone of the UK economy. That
is why we are making sure the power of Government spending supports this vital sector.</p><p><strong>
</strong></p><p>We are increasing opportunities for SMEs - from transparently publishing
contract pipelines to simplifying bidding processes and strengthening prompt payment
measures.</p><p><strong> </strong></p><p>I am proud that this Conservative Government
is bringing in the new public procurement regime will create a simpler and significantly
more transparent system that will further open up public procurement to SMEs so that
they can compete for and win more public contracts. SMEs will benefit from a new duty
on contracting authorities to have regard to reducing and removing barriers to SME
participation. This will include making bidding timescales realistic and prohibiting
contracting authorities from requiring audited accounts and insurances to be in place
prior to contract award - helping new entrants to the market.</p><p> </p>
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