SMEs dominate £3.5bn of Olympic contracts awarded

Small and medium enterprises (SMEs) based in the UK have dominated the £3.5bn of work awarded at Olympic Park.

Of the 801 companies that have already won work on the Games, more than 68% are SMEs and 98% are based in the UK.

According to figures released by the Olympic Delivery Authority, 12% of firms are based in Olympic host boroughs and just 46% are based outside of London.

SMEs also make up nearly 92% of the 42,500 companies registered on CompeteFor, the “dating agency” that aims to match business with Olympic jobs.

Olympics minister Tessa Jowell said: “These figures are yet more proof that London 2012 is a golden opportunity at a time of economic need.

“The Games will generate some £6bn worth of contracts open to UK business large and small, not to mention an estimated £2bn dividend to the tourist industry.

“But this is not all – constructing and hosting the world’s biggest sporting event will inevitably increase the expertise, efficiency and competitiveness of British business leaving a legacy which will benefit the UK economy for decades to come.”