Local economic development gets a boost with 400 per cent growth in Local Supplier Marketplace and BuyRegional launch.
New data reveals 400 per cent growth in the use of VendorPanel’s online Local Supplier Marketplace in the 2017 financial year.
The Marketplace provides a simple integrated online platform for buyers such as local councils, to source from local suppliers and is free for suppliers to register on.
BuyRegional.com.au was also launched in September 2017.
BuyRegional is an initiative that brings together the technology, as well as the experience and knowledge we have now built to really drive economic development. A growing number of councils across Australia are using VendorPanel’s Local Supplier Marketplace as a lever to boost local economic development.
“Local Councils in Australia spend $20 billion a year on products and services, and we want to make sure that as much of that as possible goes to our local traders. VendorPanel Marketplace will contribute to making that goal a reality.” Town of Port Hedland, WA. (Press release)
“Gives local suppliers an easy and consistent way to hear about contract opportunities from Council.” Lockyer Valley Regional Council, Qld. (Press release)
“One of the ways we are encouraging and facilitating local suppliers to work with us.”
Shire of Wyndham East Kimberley, WA. (Press Release).
“The Local Supplier Marketplace is a powerful lever for local economic development and social impact, making it easier for councils to leverage low value procurement to engage with local suppliers, and at the same time increase governance and probity in procurement processes,” said Mr James Leathem, CEO and Founder of VendorPanel.
Mr Leathem said The Marketplace was “especially valuable for early-stage local businesses, as it uncovers the massive number of smaller ‘below threshold’ projects, which traditionally have gone to the same old suppliers.
“These opportunities, typically worth $15,000 to $150,000, are often better suited to early-stage businesses than big tenders. These transactions are usually decentralised and hidden in email, and present a significant unmanaged risk to council in terms of compliance, governance and probity.
“The Marketplace enables councils to efficiently administer the request for quotation process with complete transparency and compliance. It also produces ‘awesome reporting and analytics’.
BuyRegional.com.au
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