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The act may mandate quicker payment terms for SMEs, ensuring that they receive funds promptly after completing a contract, thereby improving their cash flow. Overall, the new Procurement Act aims to foster a more inclusive and supportive environment for SMEs in the public procurement landscape.

The public procurement landscape in the UK is poised for its most pivotal transformation in decades. With the Procurement Act 2023 set to take effect on **February 24, 2025**, both…