With
just
over
four
years to
go and
£21
billion
worth of
opportunities
potentially
up for
grabs,
British
firms
are yet
to take
full
advantage
of the
commercial
rewards
associated
with the
London
2012
Olympic
and
Paralympic
Games.
New
research
from
Lloyds
TSB
highlights
that
three
quarters
(73 per
cent) of
firms
report
that
they
have not
yet
looked
into the
opportunities
around
the
Games.
The report, based on the responses of 800 UK
firms, shows that eight out of ten (81 per
cent) SMEs are yet to take action to tap
into the commercial opportunities presented
by the Games, compared to 58 per cent of
larger firms.
Even though many businesses have yet to
investigate the 2012 opportunities, they
remain upbeat about the Games, with 43 per
cent of respondents feeling that they will
have a positive economic benefit on their
own business. Almost half (47 per cent) also
feel the London 2012 Games will have a
positive economic impact on their region and
56 per cent believe there will be a positive
impact on the UK as a whole.
One in five firms (20 per cent) plan to
capitalise on this optimism and start
looking into the opportunities over the next
12 months, with the transport and
communications industry (31 per cent),
hotel, catering & leisure sector (26 per
cent) and construction industry (25 per
cent) leading the way.
The research also revealed that almost half
(43 per cent) of respondents feel they need
further support and guidance on how to take
full advantage of the business benefits.
To help Lloyds TSB have launched a guide to
help small businesses seize the
opportunities created by the Olympic and
Paralympic Games in 2012. The guide offers
advice on how to get ‘fit to supply’,
explaining every aspect of the supply chain,
including the unique procurement policies
involved. It also covers useful sources of
support such as the London 2012 Business
Network as well as practical financial
advice.
Find information on the Olympic Business
guide here.
