What N.B. Companies Should Know About A Billion-Dollar Procurement Opportunity
The supply chain lead for Opportunities NB (ONB) says the NB First Procurement Strategy is a lever for economic development and wants to help local companies take advantage of this opportunity to grow.
“Public procurement is a billion-dollar spend and this Procurement Strategy supports supplier development, reduces barriers, and helps us all maximize our domestic supply chains,” says Melanie Clark, ONB’s Supply Chain Optimization Project Lead.
Timed with Small Business Week last month, New Brunswick hosted this year’s Atlantic Provinces Reversed Trade Show (APRTS), with a ‘live’ day on October 20. ONB leveraged this virtual event to discuss areas such as supply chain optimization, and private/public procurement opportunities.
Clark says the APRTS presented a golden opportunity for New Brunswick businesses.
“It’s about creating opportunities and reducing barriers to help New Brunswick-based companies grow and sell more products and services to the public sector,” she says.
Why your company should attend future similar events
These events have very practical and direct benefits for local companies, says Clark.
“It’s a forum for creating new leads for our businesses, and for them to get training and education on how best to sell their products and services to the New Brunswick government as well as the governments of the other Atlantic provinces,” she says.
“We want to keep reducing barriers for our companies so they can more effectively sell into public sector procurement and the Reverse Trade Show is a great place to start.”
This year’s ARPTS saw, among other things:
- 351 New Brunswick-headquartered businesses attend, the most of any province
- 1074 registrants in total
- 521 attendees of the live learning day
- 9872 total visits to virtual booths, with an average of 365 visits per booth (and an average of 118 unique visitors per booth)
In case you missed this important event, or if you would like to listen to some of our event presentations again, please visit http://www.gnb.ca/APRTS.
NB First Procurement Strategy
Business Development Executives work with companies every day on these issues, and this has helped them develop a high degree of internal expertise. They’re well-positioned to support supply chain optimization on both the private and public sector sides of the equation.
ONB is a liaison connecting New Brunswick companies to other local companies and the public sector to help everyone fill gaps in their respective supply chains. Import replacement is a focus for them, and they know there are plenty of opportunities to support local companies on that front through procurement initiatives.
Primary Benefits
Shifting to increased purchasing of local goods and services means growth for New Brunswick companies and a stronger economy. The 2018 report, Import Replacement: Local Prosperity for Rural Atlantic Canada, notes that even a 10 percent shift in buying from local sources could make a huge difference in this region.
For example, Clark says a $100-million shift in spending in this province towards local vendors could bring approximately:
- 330 jobs
- $20.9-milliom in labour income
- $40-million in total value-added
- $1.9-million in indirect business taxes”
Procurement and supply chain Success
Clark says companies like Metalfab, BBI Group, and Craig Manufacturing (see their ONB video) as great examples of companies finding success through procurement efforts.
“You could also look at The Smart Energy Company and the solar farm initiative they landed with NB Power. That is the kind of collaboration we want to see more of.”
She says more of the province’s businesses should look at their internal supply chains and ask if there are opportunities to make any shifts to made-in-New-Brunswick solutions.
“Is there something you’re currently purchasing outside New Brunswick that could come from home?” she notes. “You could be sitting on opportunities that could create more jobs at home and keep more money in the local community.”
ONB’s Business Growth Team is available to help you with procurement and supply chain optimization. Contact us today. For a look at the NB First Procurement Strategy including how to register with the New Brunswick Opportunities Network (NBON) visit this page.