The act (formed in 2013) now requires all public sector organisations to look beyond financial costs and consider their social, economical and environmental impact.
So, if you view the concept as anything less than essential to winning work, especially within the public sector, now is the time to revisit the subject. In a nutshell, social value will be an integral part of future procurement processes.
The impact of social value initiatives is already being felt, particularly at the Local Government level.
This was highlighted in our recent report with our partner, The Social Value Portal- which was then presented at the recent annual Social Value Conference.
So, let's break it down. There are two main indicators of growing influence of social value in procurement:
An increase in the use of SMEs
An increase in the use of suppliers local to the authority carrying out the procurement
Our report on the 'Local Government Social Value Procurement Index' breaks down all you need to know about the importance of social value in public services. To get the full analysis and comparison with our 2019 data, please fill out our form, below. This will allow you to download the full report.