2022 Recap in the Contracting Industry

This year has had its ups and downs, but despite all this, we are going strong and will continue to support both suppliers and buyers in their growth. Merx saw an increase in both numbers of member agencies joining our platform to publish tenders, plus more tendering opportunities published nationwide. Before this year ends, we are excited to share with you the growth in our buyer-supplier community.

Growing Exclusive Participating Buyers

Since January 2022, we have welcomed over 190 new buying organizations – including government agencies, Crown, and private corporations – from 12 provinces & territories. Overall, we have over 2,600 member agencies that publish solicitations directly on Merx.

This is an exciting time for Merx and registered suppliers. The overall growth in the platform can signify a potential for more matching tender opportunities.

More Tenders to Match on Merx

Aside from our growing number of participating agencies, we also saw a growing number of solicitations from both aggregated and published directly on Merx. Suppliers received more notifications of tender opportunities this year. Since the beginning of 2022, there have been more than 50,000 published on Merx. Let’s break down what type of solicitations were being published:

• More than 46,000 tenders were published both directly by our participating buyers and aggregated from all agencies in the country by our hard working researchers.
• Over 3,900 were for the Crown Corporations and private corporations

Preparing Your Business for the Year 2023

As we near the end of 2022, it is time to prepare your business for more opportunities in 2023. Even with the current market conditions and financial stress, public agencies actively fund projects to help all businesses. Stimulus from the government also provides help to private corporations in pushing their projects out.

There is a lot in store for 2023 that you can start preparing for, one of which is the fiscal year-end for nearly all provinces. The fiscal year-end is usually the busiest time in the procurement industry as local governments try to publish solicitations that are budgeted for FY22 before the FY23 budget kicks in. Historically, we see an uptick in published solicitations and increased participating agency registrations during this time so they can directly notify potential suppliers.  

A good technique to prepare for upcoming opportunities is to be alerted with matching tenders from multiple provinces once they’ve been published, which is a feature that Merx offers to our registered suppliers to provide an easier and cost-effective way of growing their business. These tools can help businesses like yours create an effective growth strategy.

Start preparing your business today for the upcoming opportunities in 2023.