As the government works for the benefit of the public, there is an incredible amount of scrutiny placed on public spending. To ensure public funds are spent correctly, any government department, agency or authority looking to make a procurement must follow the policies detailed within Public Procurement Regulations 2015 .The procedures within make the process of awarding of work fair and transparent and are what make the public sector marketplace so attractive to businesses.
Government contracts are open and accessible
In the private sector, there is no requirement for buyers to share their procurement processes, and awarding work lies with decision makers who are not accountable to external review. This means they can seek quotes from as many suppliers as they like and have no obligation to fairly assess every supplier before they award the work.
Unlike the private sector, the public sector marketplace is open to all, and decisions are made following rigid processes. Central government contracts over £10,000 and wider public sector contracts over £25,000 must be advertised publicly and allow any eligible suppliers to bid for the work. The merit of each bid will be evaluated using the criteria detailed within the original contract notice, the entire process is transparent.
The benefits here are that you have a lot more awareness of what is happening in the market and can proactively bid for work rather than waiting for it to come to you. It also means that whether you are a big company or a small business, if you can fulfil the contract - you have a fair chance of winning the work.