Is it possible to get some financial return from the 2012 Olympics?

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Published: 24 April 2007

Is it possible to get some financial return from the 2012 Olympics?

Businesses in the Brick Lane area have been told about the ‘opportunities’ available to them as a result of the 2012 Olympic Games and Paralympic Games, at a London Development Agency (LDA) run event - called 'Put your business in the race' – which was intended to provide an overview of the Games and give practical advice on how businesses can make the most of the opportunities.

Tom Travers, Head of Olympic Opportunity at the LDA, said:

"Brick Lane holds a unique place in the hearts and minds of both Londoners and tourists.

By tailoring support to its diverse community not only will businesses large and small benefit, but so too will the thousands of people that visit before, during and after the Games."

Around 100 people signed up for the event which featured presentations & stands offering financial and business advice to small businesses.

In the run up to the Games, the LDA will provide business support in the following areas:

· Accessing Olympic contracts - providing information on up-coming contracting & subcontracting opportunities and helping businesses become fit-for-supply & to establish business partnerships

· Attracting visitors - marketing & tourism initiatives to highlight the attractions of East London to local and international visitors alike, including producing maps of the area and promoting East London in visitor guides and international tourism magazines

· Skills development - training programmes to help ensure good business practices, such as health & safety and customer service

· Better business premises - working with local councils to improve & dress-up business premises including better shop fronts and disabled access

John Biggs, London Assembly member for City and East, said:

"We want to ensure that everyone in London's diverse businesses community can benefit from the 2012 Games.

'Put your business in the race' was a chance to learn how businesses in east London can make the most of the Games from an early stage."

The event was arranged by the LDA following a report by Agroni in 2006 which found that many businesses in the area wanted to know more about the opportunities available to them.

Helal Rahman, Director of Bangla City supermarket, said:

"The 2012 Olympics is a once in a lifetime opportunity for businesses in East London.

It could transform our livelihood provided that we have access to the right services and opportunities.

The 'put your businesses in the race' event will be a good starting point from which we can move forward."

Further information

London Development Agency and 2012

Agroni: 'Bridging the Gap: the London Olympics 2012 and South Asian – owned Businesses in Brick Lane and green Street' by the Young Foundation

The London Organising Committee for the Olympic Games (LOCOG)

London 2012 - Business Opportunities

2012 Olympic Games local business advice - Weymouth and Portland Borough Council

Prepare for 2012 – West Midlands Business Opportunities

London’s Business Opportunity Prospectus - Maximising the benefit of the London 2012 Games