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How the Olympics will affect SMEs

London Olympic logo

This week we discuss the effects of the Olympics on SMEs. 

London's Lancaster House will showcase British businesses during the Games expecting to generate £1bn of new trade.

The Global Investment Conference will hold 17 summits with Eric Schmidt, executive chairman of Google, among the attendees. 

More than 2,000 UK businesses and 1,000 international groups have registered to attend, negotiate deals and promote their products. 

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Meanwhile, The Federation of Small Businesses wants London Councils to claim a £25m slice of the £500m Olympic underspend to help SMEs that suffer a drop in passing trade during the event.

38% of smaller firms surveyed by the organisation expect the Games to detrimentally affect their business, primarily through parking issues and transport restrictions.

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Finally, even the smallest of businesses can bid for a range of prestigious Olympics legacy contracts through the website, CompeteFor

Contracts include adapting the Olympic Park and running the Aquatic Centre after the Games and  CompeteFor will also pair companies which are not large enough to complete contracts alone. 

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