Balfour Beatty to up SME spend to £1bn

Balfour Beatty has announced it will up its spend on SME suppliers by a third to £1bn in 2014.

At a press event today Prime Minister David Cameron said the contractor’s commitment would help the government achieve its goal of 25% of central government spend going to SME businesses by 2015.

The £1bn planned spend represents a 33% increase on Balfour Beatty’s spend on small businesses in 2013.

Cameron said: “Giving businesses the confidence to invest and create jobs is a key part of our long term economic plan.

“Balfour Beatty’s commitment to spend a record £1bn on small and medium sized businesses this year is very welcome evidence that this plan is working - supporting thousands of jobs within small and medium businesses, which will give hard-working people economic security for the future.”

Nicholas Pollard, chief executive of Balfour Beatty Construction Services UK, said: “Small businesses create local jobs and apprenticeships and they are the innovators, engineers and exporters of the future.

“We are committed to supporting them so that we can build a better Britain together; leaving a lasting legacy in the communities we touch across the UK.”