Make most of Olympics

Companies must get more involved with the 2012 Olympic Games if the UK is to see a long-term benefit from the event, business leaders have said.

Make the most of Olympics, business leaders urge Companies must get more involved with the 2012 Olympic Games if the UK is to see a long-term benefit from the event, business leaders have said.

The Confederation of British Industry (CBI) is calling on Olympic organisers and politicians to help businesses make the most of the upcoming Games after a survey revealed many London companies do not expect to benefit from the event.

Less than half (44 per cent) of all London firms polled said they expect a direct benefit for their business, the CBI/KPMG survey found.

This is down from last December's survey when 58 per cent of firms felt they would get a direct boost from the Games.

Smaller firms are even less optimistic, the survey showed, with only 24 per cent of companies with fewer than 100 staff expecting an Olympic dividend.

Surprisingly, despite the £2 billion tourist boost the Games are expected to deliver for London alone, only 44 per cent of hotels, restaurants and retailers expect to benefit from the Games.

CBI director-general Richard Lambert said: "The 2012 Games are a once in a lifetime opportunity for London and we should make every effort to ensure they are a roaring success and deliver a lasting legacy for the UK.

"This doesn't just mean building an impressive array of stadiums, velodromes and swimming pools but is also about making a meaningful difference afterwards.

"The business community needs to be as involved in the Games as it can, including the long-term plans to improve the skills, training and job opportunities in the East End."

The CBI said it has identified several areas that could help Britain make the most of the Games, including: regenerating east London in terms of housing, transport links and other infrastructure to make it more attractive to live and work in; developing more jobs in deprived communities around Olympic Park; getting businesses involved in community projects; and promoting London internationally as a tourist and business destination.

The London 2012 Olympic Games are expected to generate £10 billion for business and add £21 billion to the economy.