In order to promote small businesses the New Department for Business, Innovation and Skills has decide to ensure that one fourth of all public contracts will be allocated to small and medium sized businesses. The government is also thinking of having a more open procurement process unlike the current closed process. Usually bigger companies dominate the bidding process and win contracts, but now the government is taking steps to ensure that smaller businesses also have good opportunities to win public contracts. The Federation of Private Businesses also hopes that taxation will be simplified and red tape reduced.
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