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You might be hesitant to start bidding for contracts, but do you know all the benefits of tendering? In this blog, we’ll go through the advantages of tendering for work for SMEs in the public sector. Read on to find out more!
One of the most attractive benefits of tendering is that, in the public sector, suppliers are guaranteed payment. This is because public sector buyers are bound by their contractual agreements to pay suppliers on time. In fact, the Crown Commercial Service (CCS) must pay contractors within 60-days of invoicing to comply with the Prompt Payment Code (2008).
However, this isn’t always the case for buyers in the private sector. These buyers aren’t bound by the same agreements as buyers in the public sector.
Many SMEs are under the impression that they can’t compete with big businesses when tendering for contracts. However, this isn’t the case. In fact, the UK government has a target to spend at least £1 in every £3 with SMEs.
Another of the main benefits of tendering is that it gives businesses a chance to gain experience. The more experience you have, the more contracts you can bid for and win. The more contracts you win, the larger your business will grow.
This is particularly good news for SMEs that are struggling to present relevant case studies in their tender responses. Many businesses will tender for contracts as part of framework agreements or Dynamic Purchasing Systems (DPS’) to get started. These types of contracts are great for businesses with limited experience. After completing these projects, you can work towards the financial thresholds needed to be a sole supplier.
There are many benefits of tendering for contracts, particularly for SMEs in the public sector.
In the public sector, suppliers are guaranteed payment from buyers. This isn’t the case in the private sector, as buyers aren’t bound by the same regulations. Also, the UK government actually wants to spend with SMEs. In fact, they have a target to spend at least £1 in every £3 with smaller businesses.
Finally, tendering for work is a great way for start-ups and SMEs to gain experience. After gaining this experience, your business can progress to winning larger contracts.
So, now you know the benefits of tendering. But what’s next for your business?
Enter Hudson Succeed!
We have over 60 years of bid writing experience and an 87% success rate. Whether you’re completely new to tendering or aren’t seeing results – we can help. There are four bid writing packages available:
Once you’ve found a tender you’d like to go for, send it over to us. One of our Bid Writers will write the tender response for you. We’ll provide a full Tender Writing breakdown and even submit it on your behalf.
Tender Mentor can give your tender response a once over before you submit. Our Bid Writing Team will analyse your response, notifying you of any errors and opportunities for improvements prior to submission.
During the Tender Ready service, our team will create professional policies, procedures, and case studies in your company branding. If you already have this content, we will review everything carefully to ensure that nothing is missed. Once the programme is complete, you’ll have access to three days’ worth of bid consultancy. This can be used for bid writing, tender reviews, or general advice and guidance.
The Tender Improvement package can help those who have tendered before but aren’t seeing results. Our Bid Writers will assess your previous responses and work with you to develop improved content.
Get in touch to find out how we can help your business grow.
Now you know the benefits of tendering, you might be curious about finding tenders for your business.
There’s no shortage of websites offering multi-sector tendering opportunities and leads.
Ideally, you should be searching for a sector-specific site that posts all unique, public and private sector opportunities.
Once signed up, you’ll have access to your own dedicated Account Manager. They’ll be able to answer any questions you may have about public sector contracts. You’ll also get an email alert when new and relevant tenders are uploaded to your sector.
If you want to streamline the process even further, you can sign up to Discover Elite via your chosen portal. With this service, a dedicated Account Manager will find live bids on your behalf. They’ll speak with you weekly to discuss opportunities that may interest you. This is especially helpful for those with little time to spare due to busy schedules.
Our support doesn’t end there! Our creative content agency, Vocal, are on hand to help.
The Vocal Team are not afraid to stand up and be heard. And we make sure our clients aren’t either! From small, micro businesses to large organisations, we are vocal about the things that make your business unique.
Our creative service is dedicated to growing your business through striking and thought-provoking content. We’ll take your bid and give it a complete makeover. With professionally designed tender documents, you’re sure to make an impression on the buyer!
Our team specialise in six areas, including:
If you’d like to know more about what we can do for your business, introduce yourself to the team!
Contact us to find out more!
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