Islington Business Enterprise Team

The Islington Business Enterprise Team (IBET), is an innovative business brokerage service within Islington Council’s Regeneration department.

IBET has been set up to help local companies and organisations obtain the maximum economic benefits from major developments taking place in Islington.

Having successfully demonstrated that local procurement initiatives can yield positive economic and social benefits, the project has now been extended to other major developments that are taking place in Camden including the Kings Cross Central £2 billion 10 year development.

For further information about IBET'S  joint venture with the Kings Cross Business Forum please click the 'What's New' link on the left.

Business brokerage: IBET establishes a working relationship with main contractors active in the borough. They are giving us notice of their procurement needs and we are supplying the names of suitable local companies to put on their tender lists.

Benefits for Islington

Without the IBET initiative taking place, very few local companies would get the opportunity to quote for work on many of the major developments in the borough.

Research by the New Economics Foundation has shown that local contractors can spend up to 76% of their income in the local economy compared with 36% by contractors from outside the area. This ensures that more than twice as much money is retained in the local economy.

Advantages of Local Procurement to Developers and Contractors

There are many practical benefits for contractors of appointing suitable local subcontractors and suppliers. These include:

• The reduction in transport and logistical costs.
• Reduction in risk of delays.
• Eliminating the problem of bringing in and finding temporary accommodation for an outside labour force.
• Greater flexibility and reliability of supply of materials to site from companies with local warehousing.
• Better access to senior management and opportunity for face to face meetings.
• Identification of new companies to add to their supply chain .