Industry Analysis & Industry Trends
The Procurement Outsourcing Services industry faced challenges in a shrinking market over the five years through 2012-13. Industry revenue is estimated to decline by an annualised 1.1% over the period to reach £2.53 billion. The industry's market shrank as the number of businesses in the United Kingdom fell. The remaining businesses were also wary of their financial outlook and were less likely to invest in new procurement processes, which cut demand for industry services. On the other hand, businesses customers were inclined to outsource their procurement function as they strived to find greater efficiencies in a competitive environment. As such, the industry benefitted from a countercyclical trend... purchase to read more
Industry Report - Starting a New Business Chapter
The industry is largely self-regulated, which means that compliance-related barriers to entry are low. Other barriers to entry are considerable, however, and relate to the need for industry participants to establish credibility with clients. For example, potential new entrants need to be able to attract appropriately qualified staff, often with niche knowledge relating to the major markets an enterprise hopes to target.
Connections to international networks for procurement are also critical, as the supply chains of companies become increasingly globalised. Potential new entrants need to develop an understanding of overseas and domestic regulations surrounding import and export of goods... purchase to read more