Bloom Procurement Services has delivered over £28 million in social value activity in just one year, according to a new report
The figure demonstrates the positive impact Bloom has had on the social, economic and environmental development in the North East and beyond. Despite the economic and employment challenges of COVID-19, Bloom has increased its headcount by 18 since the beginning of lockdown in March, highlighting the companies commitment to job creation.
The report has also revealed that 88.9% of Bloom’s accredited suppliers are of SME status and £97 million worth of projects have been awarded to local suppliers. By putting SMEs at the centre of their procurement strategy, public sector buyers can ensure that public money is being invested back into local communities and spent in a way that delivers tangible social impact, from the creation of local jobs and opportunities to increasing supply chain resilience.
Sarah MacNab, Head of Social Value at Bloom, commented “We’re incredibly proud of the value we’ve been able to deliver to local communities through this challenging time. Social value has always been a huge priority for Bloom: it’s embedded within our systems, policies and processes, which has had a real positive impact on how we measure, manage and maximise the social value that we offer. We’re committed to making it easier for the public sector to meet their social value goals, and our Social Value Report shows just how much we’re delivering on that mission.”
Procurement Policy Note
As part of a new strategy which requires public sector bodies to better manage their social value efforts and deliver positive outcomes to the people, communities and economies, the Cabinet Office has now released a new Procurement Policy Note (PPN 06/20) that requires central government bodies to go above and beyond the guidelines set out by the Social Value Act 2012.
In December, Bloom became the first procurement specialist to achieve Level Two of the Social Value Certificate, awarded by Social Value International, and is now working towards achieving Level Three. Based on the business’ rapid growth, social value is set to embedded into billions of pounds worth of public sector contracts within the next five years, driving much-needed growth back into local economies.
You can read the full report here: Social Value Report for 2019/2020.