Britain’s decision to leave the EU has caused some controversy and uncertainty for many UK businesses. With the pound reaching an all time low, small businesses are left wondering what affects Brexit has in store in the not so distant future.
Nonetheless, that is why NOW is the perfect time to look at what procurement consultant Eddie Regan has to say on the subject matter.
Here, CompeteFor journalist David McQuade outlines the results of the post-Brexit survey and how SMEs think it will affect them.
“Faced with the question “Do you believe that the decision to leave the EU will have an impact on future procurement activities?”, over half of the respondents (60%) predicted it would, with 40% forecasting that it would not.
Business As Usual for SMEs
Several of our public and private sector clients continue to ask the question at the front of everyone’s mind, ‘What impact will Brexit have on Procurement?’ Read on to discover what procurement expert, Eddie Regan, believes is potentially the biggest change that public procurement has seen in over a decade.
BiP’s Principal Consultant Eddie Regan spends most of his waking hours either immersed in procurement regulations or running training workshops on how they impact buyers and suppliers.
Eddie has helped BiP clients understand countless regulatory changes over the years and in this Business Analysis, he gives us his expert opinion on the potential impact of Brexit.
Report Snippet – Do you believe that the decision to leave the EU will have an impact on your future procurement activities?
Of the minority who believed Brexit would not affect their future procurement activities, one respondent explained this opinion by saying post-Brexit the UK would not be obligated to use EU procurement law, but could choose to follow its best practice. They commented:
“Countries outside the EU have taken the EU regulations as inspiration for their public procurement.”
This theory was backed by a second respondent, who explained the UK’s history of collaboration with EU members in the drafting of procurement law. They said:
“The UK had a major role in how the current OJEU procurement processes work so we will probably keep a good 90% the same; the 10% changed will be minor things such as time periods and potential increased flexibility towards UK-based service providers or threshold levels. It is still public sector money being spent so frameworks etc will still be required.”