Olympics open for business

A series of large-scale events will take place around the country over the next few weeks, giving regional firms a chance to compete for contracts relating to the 2012 London Olympics.

With the world's largest sporting event less than five years away, the Olympic Delivery Authority (ODA) says that there is more than £6 billion to be earned, and that almost 70% of the work could go to Britain's small or medium businesses.

The London Organising Committee (LOC) has also set up a business 'dating agency', the Compete For website. The LOC says that it will exist as a focal point for firms, acting as a broker between companies already in the 2012 supply chain and their potential suppliers.

LOC chair Lord Coe said: "The games could make this a 'golden decade' for British business. It's a massive logistical operation, requiring goods and services from a large number of firms."

ODA chair John Armitt also assured businesses outside the South East that they could compete for work. He said: "Half of the work we have already awarded has gone to firms outside London, including to firms in Northern Ireland and Scotland."

Although it is thought that London-centric publicity may have discouraged regional firms from considering the Olympics as a potential income source, planners hope that as much as 20% of all the business could flow through Compete For.

Details of individual regional events can be found on the LOC website events page.