Small to medium enterprises (SMEs) have won more than £3.5 billion in Olympic Games contracts so far, it has been revealed.
Figures released by the Olympic Delivery Authority have shown that the majority of the work for the Games has been procured to smaller firms, with the eventual amount expected to rise to £6 billion.
The minister for business, Pat McFadden, commented: "In these difficult economic times, this is a real vote of confidence in British business."
He added that he was pleased to see the UK's small firms leading the field in the race for London 2012 work.
In the run-up to the Games, more than 42,000 companies have signed up to CompeteFor, which is responsible for procuring Olympic contracts for businesses.
Also this week, a study by the Forum for Private Business and credit agency Graydon UK revealed that 70% of small firms would rather consult an accountant than a bank.
Financial News
London 2012: £3.5 billion and rising
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