The UK’s new Procurement Act 2023 (PA23) went live this week. The new regulations aim to encourage smaller businesses in the private sector to secure a bigger share of £400 billion in public spending each year. Some experts have already hailed PA23 as a “win for Davids over the Goliaths.” Others, however, have warned that new, complex processes risk overwhelming unprepared SMEs.
With any new regulatory changes, there are new risks. These can range from lost business and penalties for organisations found to be in breach of new rules, to reputational damage for delivering sub-par services.
In conjunction with PA23 going live, procurement specialist Pagabo has launched a campaign to support the UK’s public and private sectors as they work to adopt and benefit from the latest procurement reform.
TIme to “Act on Procurement”
‘Act on Procurement’ is simplifying the legalisation within the Procurement Act through a range of resources, including an extensive downloadable guide, explainer video, frequently asked questions and webinars – all created by the experienced experts at Pagabo.
As well as explaining what changes key stakeholders, including contracting authorities and suppliers, will have to consider, Pagabo’s Act on Procurement campaign explores why 2025 will be a landmark year in the history of procurement legislation and how the well-established procurement specialist can help.
Shamayne Harris, head of procurement at Pagabo, said: “Through our close contact with organisations varying in size across the public and private sectors, we’re well aware of the different levels of preparedness ahead of the launch of the act. With this in mind, we’ve established a collection of resources to increase access to knowledge and support around the Procurement Act – both from before the Act went live and afterwards – to help others compliantly navigate procurement reform.
“There are lots of new concepts, definitions and processes for different professionals to familiarise themselves with, which we hope to have made more accessible and actionable.
She added: “The Procurement Act presents a huge opportunity to increase simplicity, transparency and opportunity within procurement in the long-term, which will help to ensure the public purse is best utilised – making this an important moment in time. With central government continuing to unveil substantial plans for development of infrastructure, communities and public services, the time is now for everyone to pull together and help realise the potential for public procurement to provide value for money, economic growth and social value.”
