How is the Welsh Government using public procurement policy to strengthen opportunities for family-owned businesses as part of its community wealth building agenda?
Many Welsh Government procurement policies which strengthened opportunities for family-owned businesses have become law through the Procurement Act 2023 and the Social Partnership and Public Procurement (Wales) Act 2023. The legislation helps such businesses by creating a framework that removes barriers for Small and Medium sized Enterprises (SMEs), increases transparency, strengthens consideration of social and economic outcomes, and supports community wealth building. Welsh Government policy goes further by requiring social value weightings in relevant tenders, and providing guidance on the ability to reserve below threshold procurements to SMEs, Voluntary, Community and Social Enterprises and, for certain Welsh Contracting Authorities, the ability to reserve such procurements to suppliers in a specific geographic location.