AROUND 40% of all the 2012 Olympic Games business opportunities are still to be advertised and North East companies are being urged to grab their share.

It’s estimated that North East companies have already won around £50m in business, mainly associated with building the Olympic Park in London, but there is still plenty of work to come, both in the capital and in the region.

Work in the supply chain, providing everything from food to transport to barriers at peripheral events being staged in the North East, is yet to be advertised.

Information about the type of opportunities available and how to bid for them was included in a series of seminars during the first day of the two-day Business Exchange North East event at the Sage in Gateshead yesterday.

Laurie Neville, procurement programme manager at Locog – the organising committee for the 2012 Olympic Games and Paralympic Games – said businesses from around the UK are benefiting from London 2012 contracts.

“More than 50% of contracts for the Games have been awarded outside of London and the South East,” he said.

“Around two-third of the [winning] companies are SMEs. We are proving we’re spreading contracts regionally and size-wise. We have very fair and transparent procurement practices; everyone genuinely has the chance to win.

“Some of the regional contracts will be better for the regional suppliers but also some of the contracts in London can be performed by organisations across the UK.

“It’s a great chance for suppliers to show what they can do. It’s very motivating for staff to be involved.”