Small Businesses Will Grow on Back of IT Procurement Reforms
Minister Assisting the PM for Cyber Security Dan Tehan, Minister for Small Business Michael McCormack and Assistant Minister for Cities and Digital Transformation Angus Taylor have announced Commonwealth IT contracts have been capped at a maximum value of $100 million and/or three years’ duration, to allow smaller players to bid for smaller components of larger projects.
Assistant Minister for Cities and Digital Transformation Angus Taylor joined Minister for Small Business Michael McCormack and Minister Assisting the Prime Minister for Cyber Security Dan Tehan at cyber security start-up Penten in Braddon, Canberra on Wednesday, to hear about the benefits for small business.
Assistant Minister Taylor said it was great news that Penten was expecting to double its revenue and workforce over the coming 12 months through initiatives including the procurement reforms.
Minister for Small Business Michael McCormack said the Federal Government was proud to be backing small business by providing growth and investment opportunities.
“Penten is a great example of how small business is at the forefront of innovation, taking full advantage of opportunities created by the Federal Government to deliver new services,” Minister McCormack said.
The Federal Government is aiming to inject an additional $650 million annually (10 per cent of its annual IT spend) into Australian technology SMEs (businesses with less than 200 staff).
The Federal Government will also reduce the number of IT panels to make it easier for small providers to supply services to government agencies and departments.
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