The Olympics, funding success with money
The Beijing Olympics have proved to be the most successful for the British team since 1908. But how has all this success been achieved? I found an interesting article by a Mr David Stevenson, he asks... Was it all down to money?
"...In a word, money. That's not to detract from the huge efforts made by the nation's athletes, but without massive doses of extra funding the UK's triumphs in cycling, rowing and sailing wouldn't have happened. After Atlanta, some serious soul-searching started about how a country that invented many modern sports could finish 36th in the world. Taxpayers' cash wasn't on the agenda, but National Lottery funding was. "Most of the money the lottery raises goes on social services, church roofs, heritage sites and public football pitches – yet the UK's Olympic success shows you can literally buy gold medals," says the FT. Funding for athletes with realistic medal chances has jumped from £59m ahead of Sydney in 2000 to £70m in 2004 to £235m for Beijing. The extra cash started to pay off in Sydney, where Great Britain collected 28 medals (including 11 golds) and four years ago in Athens where the medal haul totalled 30 (with nine golds). And the Department of Culture, Media and Sport predicted ahead of the Beijing Games that the tripling of funding gave Britain "a good chance of its best performance in a non-boycotted Olympics since Antwerp..."
Then he mentions "...As Chancellor, Gordon Brown announced an unprecedented £500m public sport investment for 2012 in the 2006 Budget – £300m from the lottery and another £200m from the taxpayer. The success in Beijing has also helped to silence the critics. Steve Richards of The Independent reckons that for the first time he can recall, "there's a consensus that public investment has made a pivotal difference" to British sporting success. But there's already a snag. Britain's Olympic heroes are set to return home to a political spat over a potential £79m funding shortfall for 2012. Mr Brown had expected his largesse to be boosted by an extra £20m annually from the private sector. But the sports sponsorship specialists appointed to raise the money haven't been able to – 2012 is yet another credit-crunch victim..." (Read full articel ay moneyweek.com)
The Olympic project London 2012, will it help the economy?
Great Britain winning the right to host the Olympic Games stirs a great deal of national pride, which explains why governments are so keen to financially support Olympic bids. But another, equally important, reason is the long-term benefits! These are not just quick-fix boosts for tourism and investment; the Games can be a springboard for mass regeneration and UK development.
As one of the most disadvantaged areas of the English capital East London will benefit immensely from hosting the 2012 Games. Also, the borough was already the recipient of investment for transport and housing, which will help support not only the community but the 2012 Olympic project.
London 2012 business ‘dating agency’
The Olympic Delivery Authority (ODA) and London Organising Committee (LOCOG) expect to allocate over £6bn of work as part of an estimated 75,000 future business opportunities covering direct contractors and their supply chains over the coming years.
The ‘London 2012 Business Network’, launched to over 600 business people at an event at Old Trafford today and accessible at www.london2012.com/business , will help companies compete for London 2012 business opportunities direct with London 2012 or with suppliers in its supply chain.
The Network has three component parts: essential information on upcoming opportunities and how to supply London 2012; business events; and the new ‘CompeteFor’ service, a business ‘dating agency’ that will match companies to thousands of opportunities supplying London 2012 contractors. Up to a fifth of London 2012 supply chain opportunities are expected to go through the CompeteFor system.
Launching the new London 2012 Business Network in Manchester, alongside Olympics Minister Tessa Jowell and ODA Chairman John Armitt, LOCOG Chairman Seb Coe said: 'London 2012 is already providing a unique opportunity for businesses throughout the UK to raise their profile and reputation on the global stage, and the amount of big sporting events coming to the UK, as a result of us winning the right to host the Games could make this a ‘golden decade’ for major events in the UK and, therefore, British business.
'Delivering the Olympic Games and Paralympic Games is a massive logistical operation, requiring goods and services from a large number of firms. Businesses the length and breadth of the country will win contracts and we hope gain a huge amount of experience of what it takes to stage and host big sporting events. This should lead to a new ‘export market’ for the UK. The success of the Sydney Olympic Games in 2000 not only led to a large increase in direct foreign investment in New South Wales – it also led to Australian businesses establishing an international reputation for their skills in delivering big global events. London 2012 gives UK business this opportunity.
Federation of Small Businesses Co-ordinator for the London 2012 Games Nick Winch said: 'The delivery of the London 2012 Games will provide opportunities for businesses of different sizes and varying sectors. I welcome the launch of the London 2012 Business Network and development of CompeteFor and believe it can open up business opportunities in the 2012 games to small and medium sized companies. Registering on CompeteFor should be a priority for all SMEs. Not only will it provide them with access to Games contracts but registering on CompeteFor will give SMEs a quick 'MOT' and through access to business support a helping hand on the way to greater business success.'
Business Minister Stephen Timms said: 'London 2012 is a great opportunity for British business and I want to encourage as many firms as possible to benefit from the Olympic and Paralympic Games. CompeteFor will give firms access to our business support services through Business Link which will help them grow and develop their business, not only for the Games, but as a lasting legacy for the future.'
Joint-Chair of the Ethnic Minority Business Task Force, Adeeba Mailik said: 'The ethnic minority taskforce has as one of its strategic objectives the desire to ensure a larger number of ethnic minority owned businesses engage in public and private sector procurement. I believe the London 2012 Business Network will facilitate diverse businesses in accessing London 2012 Games opportunities and seeking help, through Business Link, to do so. I will certainly be urging ethic minority businesses to register with the London 2012 Business Network.'
ODA and LOCOG will advertise their direct contract opportunities online through CompeteFor and direct London 2012 contractors appointed will be encouraged to advertise their supply chain opportunities through the system. For example the Olympic Stadium construction contractor ‘Team Stadium’ has opened the service with an advert for their site accommodation cleaning contract.
Companies at every level of the London 2012 supply chain will be encouraged to advertise their supplier opportunities through CompeteFor.
After registering basic company information any interested business can view the opportunities advertised. Companies can then complete a business profile, which involves answering a series of simple questions, to be able to compete for opportunities.
Article from the official London 2012 website
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