The government’s Small Business Procurement Programme is set to be implemented by the Ministry of Business by January 01, 2019.
This programme will ensure that small businesses have their fair access to government procurement activities through a transparent and efficient process, government’s Department of Public Information reported Friday.
Section 11:1 of the Small Business Act of 2004 provides for at least 20 per cent of procurement of goods and services required annually by the government be obtained from small businesses and that the Small Business Council which oversees the Small Business Bureau (SBB) shall facilitate this by preparing a Small Business Procurement Programme.
During his post-Cabinet press briefing today, Minister of State, Joseph Harmon explained:
“Cabinet has approved the programme’s implementation and it was agreed that there would be a basic set aside measure for all government [goods, services and works] up to $30M.”
Minister Harmon noted that there will also be a set aside for sub-contracting, measures for all government procurement between $30M and $200M and that all ministries, agencies and regional authorities will participate in the implementation of the programme.
Specifically, the State Minister said, “the ministries, agencies and regional authorities will be required to provide annual projections of the value of small business procurement by sectors, based on their annual procurement plans to the SBB. They will also be required to implement the set aside measures approved and provide a quarterly report on procurement payments to the SBB”.
Minister Harmon pointed out that the programme will also enhance the economic impact of public spending.