LCY event delivers £1m of business transactions
The Royal Docks Meet the Buyer in April brought together local suppliers and buyers
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A Meet the Buyer event held in the Royal Docks in April 2018, and fully funded by London City Airport, has already generated over £1 million of business transactions, with this figure predicted to rise to £1.3 million.
The inaugural Royal Docks Meet the Buyer event, at the Aloft London Excel, brought together 132 suppliers, including 22 companies from the London Borough of Newham. The event gave local businesses and SMEs the chance to meet major buyers in London’s Royal Docks, including those in the airport’s supply chain and involved in its transformative £480m development programme.
The event builds on London City Airport’s existing supply chain record, which equates to a £34.5m spend annually with East London businesses, including 29 businesses from the airport’s home borough of Newham, representing around 37% of the airport’s contracts - worth over £30 million.
Companies that have been successful in securing business from the event include Tower Hamlets video production partner, Cherryduck; and Woolwich firm, Absolute Hygiene Solutions Ltd, which received a contract from Aloft London Excel. Canary Wharf Group Ltd is also predicted to commission work for Romford-based British interiors brand, Brennon & Burch.
Robert Sinclair, CEO of London City Airport, said:
"We are passionate about creating business opportunities at the airport and within London’s Royal Docks – an exciting enterprise zone in the heart of Newham.
"Our single event in April is on course to generate £1.3 million of transactions and as the four-year development programme continues, we will do even more to engage and collaborate with local businesses so they can continue to share the benefits of the area’s regeneration."
The 19 buyers present at April’s event are all based close to, or working in, London’s Royal Docks - actively sourcing, issuing tenders, obtaining quotes and awarding supplier contracts. Expertise was sought in a variety of sectors including construction, engineering, facilities management and IT services.
Newham buyers included the University of East London, BP Installations, Aloft London Excel, and Multiplex, the main contractor for the ABP development in Royal Albert Dock. International firms Bechtel (the airport’s delivery partner) and BAM Nuttall (a major development contractor) were also present.
The figure released today is based on the 3-month assessment of the event by co-organisers BE Group. Plans are being made to repeat the Meet the Buyer event on an even larger scale, in collaboration with London Borough of Newham, in spring 2019.