New initiative from Exor aims to boost trade in London

Leading accreditation and compliance company, Exor Management Services, has launched a new initiative designed to boost trade in the Capital and surrounds:  The London Database. 

“One of the big barriers to current trade – especially for SMEs - is buyers having confidence in the stability and operational processes of potential suppliers” explained Ian McKinnon, Managing Director, Exor Management Services.  “And of course when selecting new suppliers, if there isn’t existing knowledge or experience of them, then there can be a delay whilst procurement checks are carried out.  This isn’t good for buyers or suppliers.

“Tackling this challenge, The London Database aims to create a business community  resource of credible suppliers – all of which have been assessed as part of the Exor accreditation standards – which buyers can find and use with confidence.”

The buyers comprise local government procurers and Tier 1 and 2 buyers from the private sector, many of whom already have strong working relationships with Exor.  The suppliers comprise local companies that have passed Exor’s accreditation standards, to be ‘fit to serve’.  Exor already has a database of 5,000 businesses in the London region of which a quarter have already been accredited and it is working hard to get more organisations accredited as well as recruiting more to join the community.

Exor’s proven accreditation standards assess every aspect of a business’s operations, including:

• Financial Stability and Viability
• Corporate Governance
• Director history and business experience
• Insurances & Registrations
• Health and Safety
• Equal Opportunities
• Environmental
• Work In Occupied Dwellings

Exor’s service can be applied across a range of businesses from a Sole Trader to a Limited Charity or a multi-National Plc. All are assessed in a process that is transparent, administratively simple and rigorous and ensures that they meet the requirements of buyers.

McKinnon adds, “Exor provides a set of standards that local authorities and commercial businesses can apply to each of their suppliers. These standards enable organisations to monitor suppliers on an on-going basis without having to implement onerous additional checks or controls.  As a result, The London Database will allow suppliers that comply with Exor standards to seek work within the London region, often at no extra cost.

“We firmly hope the impact will be a community led partnership that allows local businesses to benefit from framework agreements and major local contracts as the work is cascaded down the supply chain.

“The launch of this new initiative aims to create more opportunities for London suppliers, while demonstrating a working partnership between the Public and Private sector and the local business community. This can only be a good thing for stimulating economic growth, while boosting the success of economic regeneration within the local community.”