John Hutton MP visits innovative London 2012 business service

John Hutton MP visited Stratford today to see how the CompeteFor service is giving London businesses the chance to benefit from opportunities linked to the London 2012 Olympic and Paralympic Games.

CompeteFor is part of the London 2012 Business Network. Developed by the LDA, the service is run across the country by regional development agencies and the devolved administrations, alongside the Olympic Delivery Authority.

Over 5,600 London businesses have registered since it was launched in February 2008.

The Secretary of State for Business, Enterprise and Regulatory Reform was taken through the groundbreaking online resource by the London Development Agency's Group Director for Olympic Legacy Tom Russell.

CompeteFor matches companies of all sizes to thousands of opportunities supplying London 2012 contractors. By registering online businesses will be able to apply for contracts that are part of the estimated 50,000 future business opportunities - around £6 billion of work expected to be allocated by the Olympic Delivery Authority (ODA) and London Organising Committee (LOCOG).

John Hutton, Secretary of State for Business, Enterprise and Regulatory Reform, said:

"The Games are a fantastic business opportunity for companies in the UK. To take advantage of this opportunity it's important that businesses in every part of the UK start bidding for contracts.

"We need thousands of companies to help supply the Games. There will be up to 50,000 contracts available worth around £6 billion. Already more than 5,600 companies from London have registered for these opportunities on the CompeteFor site, but we still need many more."

Tom Russell, LDA Group Director for Olympic Legacy, said:

"Over 5,600 London businesses have signed up to CompeteFor and we are working with London Business Network to ensure as many businesses as possible can access 2012 opportunities."

"CompeteFor spread the benefits of the 2012 Games as wide as possible - across London and the rest of the UK. This is one of the LDA's projects that are helping to deliver the legacy now. CompeteFor opens up the supply chain for small and medium sized businesses - while also helping improve their ability to supply because of the support they can access through the Business Link network."

The LDA is working with the business community through the London Business Network to promote CompeteFor and other business opportunities linked to the 2012 Games. The Network, created by London First, the London Chamber of Commerce, CBI London and the LDA, provides information, access to business support and networking events for London’s businesses.

Mike Mulvey, CEO of London Business Network, said:

"The London 2012 Games represent an enormous opportunity for the capital's business community. CompeteFor will ensure that Londoners reap a share of the economic benefits which the Games will generate. The website will allow businesses of all sizes access direct commercial opportunities from the Olympic authorities and their contractors and the support and advice they need to compete effectively."

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Notes for editors

1. The London Development Agency works to improve the quality of life for all Londoners and drive sustainable economic growth.
2. CompeteFor is part of the 'London 2012 Business Network' which has three component parts; essential information on upcoming opportunities and how to supply London 2012; business events; and the ‘CompeteFor’ service. See www.london2012.com/business
3. A total of 5,624 London companies had registered with CompeteFor by 13 May 2008.